Grammy-winning rapper Kanye West is laughing straight to the digital bank this week after reportedly coming up big in his fight against the digital currency creators behind “Coinye.”
According to reports, the Coinye war has finally come to an end.
Rapper Kanye West filed legal papers claiming he’s won his court fight with the operators of a digital currency called “Coinye.” West on Friday moved for summary judgment against the creators of the digital currency — featuring gold cyber-coins with a cartoon image of Kayne West wearing his signature shades — after they failed to respond to his January Manhattan federal court suit seeking unspecified money damages and an order prohibiting the use of his name. (NY Post)
Reports also claim the Coinye team has bowed down and acknowledged its defeat.
Only two of the 12 named defendants have responded. In the past month, Robbie Hontele filed legal papers saying he’s “executed a confidential settlement agreement” with West and the rap star’s company, while another, Richard McCord, said he has an “impending” deal in place. Following the suit’s filing, the creators of Coinye — a electronic currency they hoped would rival encrypted Bitcoin — said they would change the name. Their website even posted a message, “COINYE IS DEAD. You win, Kanye.” (NY Post)
Back in January, reports about a New York judge green lighting Ye to allow his attorneys to hunt down the people behind Coinye bubbled online.
A judge in New York City has given Kanye West’s lawyers permission to track the anonymous creators of an online currency which the rapper claims is trading off his name. The team behind the currency has so far remained anonymous, but during a court hearing on Thursday (16Jan14), U.S. District Judge Analisa Torres granted West’s attorneys legal authority to track down the identities of those behind the scheme. The lawsuit is seeking unspecified damages, and seeks to block the exchange of the Coinye currency. (Hollywood)
Despite appearing to shut down a few days prior, Coinye had only 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)