UPDATE: Coinye Fights Back At Kanye West: “We Are Not Dead”

Hours after rap star Kanye West's lawsuit against digital currency site Coinye appeared to shut it down for good, new reports suggest the battle has only just begun.

According to reports, Coinye has made a few minor changes and informed online users it did not fall victim to Ye’s wrath.

The website is currently live, allowing users to start using the currency — dubbed CoinyeCoin — today. “Contrary to popular media opinion, we are not dead,” the coders write on the site. “We are working hard to bring you some exciting new additions!” “Is Kanye involved?” they continue. “Absolutely not! We would like to make it clear that we are entirely independent of the man, and there should be no confusion as to the intent or origin of this project. The name ‘Coinye’ is intended solely as parody, not an indication or implication of endorsement or involvement.” (MTV)

After a cease-and-desist letter, Yeezy took severe legal action against Coinye this week.

The rapper’s lawsuit was filed Tuesday in Manhattan federal court. It seeks to stop companies and individuals that have not yet been identified from exchanging the digital currency. It also seeks unspecified damages for hurting West’s reputation. The lawsuit says the creators of the digital coins “brazenly admit” they used West’s name and likeness to associate their new currency with West. The lawsuit says entrepreneurs boasted that the currency can’t be stopped whether it “looks like a dollar, a dog or a cartoon picture of a rapper.” (USA Today)

Last week, Mr. West’s legal team issued the cease-and-desist letter to put an immediate end to the Coinye hype.

Lawyers for Kanye West filed cease-and-desist papers against the seven anonymous coders behind Coinye West, a virtual currency that went from chatroom joke to Internet sensation last week. The legal document, dated Jan. 6, includes an image of Coinye – a cartoon representation of West on a gold medallion. West’s lawyer argues trademark infringement. “Given Mr. West’s wide-ranging entrepreneurial accomplishments, consumers are likely to mistakenly believe that Mr. West is the source of your services,” wrote Brad Rose, a partner at Pryor Cashman LLP, which has previously worked for West. (Wall Street Journal)

Although the project still launched, certain changes were made to reduce the direct West connections.

For starters, it’s not Coinye West any more, just Coinye. The coin’s image has also been changed, though the reference is still clear. But one thing the coin’s creators haven’t done is give in to the lawyers’ demand that the domain coinyewest.com be given to Kanye, though they have changed the domain to coinyeco. (Escapist Magazine)

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