Grocery chain Trader Joe’s filed a lawsuit this month against the decentralized exchange (dex) platform Trader Joe for trademark infringement. The suit, filed in federal court in Los Angeles, alleges that Trader Joe illegally copied the Trader Joe’s brand name and seeks to bar the exchange from using the name.
Supermarket Trader Joe’s Says Dex Platform Causes Reputational Damage and Brand Erosion
Trader Joe’s, the national chain of grocery stores known for its private label products, sued Trader Joe in federal court for illegally using its trademark. The lawsuit alleges that the dex platform, which launched in 2021, infringes on Trader Joe’s brand name.
The grocery retailer outlined several instances of alleged illegal use, including Trader Joe naming their exchange “after the supermarket” without permission and using the exact “Trader Joe’s” trademark on their website and social media. Trader Joe’s sent multiple cease-and-desist letters demanding the exchange stop using the name, which were allegedly ignored.
The lawsuit claims that the exchange’s use of a confusingly similar name causes reputational damage and erodes Trader Joe’s brand recognition. The complaint seeks an injunction barring further use of Trader Joe’s trademarks and domain names.
“Defendants’ ‘Trader Joe’ branding is designed to allow them to commercially profit from Trader Joe’s famous mark and broader reputation by causing confusion as to the source, sponsorship, affiliation, or endorsement of defendants’ website and services and by trading on Trader Joe’s hard-earned goodwill and name recognition,” the supermarket’s lawyers argue.
Founded in 2021 by pseudonymous developers Cryptofish and Oxmurloc, Trader Joe operates a dex, liquidity pools, and lending services on the Avalanche blockchain with over $76 million in total value locked. The exchange also has a native token, JOE, currently trading around $0.23.
Trader Joe’s alleges the exchange misled an international domain name dispute resolution process by claiming the platform was named after the developer’s brother Joe Liu. The complaint calls this a fraudulent attempt to avoid transferring the traderjoexyz.com domain name.
The lawsuit asserts counts of federal trademark infringement and dilution, cybersquatting, unfair competition, and conversion. Trader Joe’s is seeking injunctive relief, damages, and legal fees.
What do you think about Trader Joe’s suing the decentralized exchange over its name? Share your thoughts and opinions about this subject in the comments section below.
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