Telegram Sues Startup over Cryptocurrency Naming Rights

Telegram has filed a trademark suit against a Florida company that also intends to create a cryptocurrency named “gram”
16 May 2018   664

Encrypted messaging company Telegram filed the suit on May 11 in the San Francisco branch of the US District Court for the Northern District of California, alleging that Lantah LLC violated Telegram’s service mark rights when it filed a trademark application for “gram” in February. 

The Pavel Durov-led firm raised $1.7 billion from a group of less than 200 accredited investors to fund the development of the future Telegram Open Network (TON), which native cryptocurrency will be called GRAM.

In February Lantah LLC filed a trademark registration for “gram,” stating that it intended to develop a “virtual currency for use by members of an online community via a global computer network.” That application was filed after Telegram had begun raising funds for its network.

Telegram claims that it has acquired “common law trademark rights” to GRAM since it has already conducted a “widely reported on and highly successful offering of Purchase Agreements” using the term. The firm further alleges that Lantah is operating in bad faith and seeks to profit from brand confusion.

Lantah was publicly using the Gram name before we were even aware of Telegram’s decision to market one of their products with the same name.  This was backed up by the availability of the trademark. We are now having the matter reviewed by counsel.

 

Daniel Jeffrey

Founder, Lantah LLC

Jeffrey also said that contrary to Telegram’s claim, Lantah was using the “gram” trademark before it was even aware that Telegram had decided to market a product under the same name.

ICOs to Lose Popularity, Diar Research Say

Diar assumes that in the future unregulated ICOs won't attract significant attention
11 December 2018   15

Although since the beginning of this year, ICO-startups have managed to raise over $ 12.2 billion, the November figure was only $ 65 million, according to data from a new study of the Diar portal.

According to analysts, the once popular method of financing, which allowed startups to attract tens and hundreds of millions of dollars in the absence of any product, exhausted itself against the background of fears about regulators' actions and the general dynamics of the cryptocurrency market, which did not leave retail investors with anything except for an unpleasant aftertaste.

This version is also supported by the data from the TokenData portal, which Diar leads in his research. Even with respect to the October levels, which constituted only a small fraction of what could be collected a few months ago, the November figures were 3 times lower.

Diar assumes that in the future unregulated ICOs as we have known them over the past years will no longer attract significant attention and will give way to regulated platforms of tokenized securities.