More drama for the bear market as Jack Dorsey's Block presses a lawsuit against Bitcoin .com. How is this all going to play out?
Digital payments company Block Inc. is pursuing legal action against Roger Ver’s Bitcoin.com over alleged trademark infringement involving its newly launched Verse token, which concluded a $33.6 million private sale in May 2022.
The alleged trademark violation stems from Block’s acquisitions of Verse Technologies Inc. and Decentralized Global Payments S.L. in 2020. “The portfolio of Verse and Decentralized also included a peer-to-peer payment app under the name"VERSE". Since the takeover, our client has been operating this app,” the letter read.
“The use of the designation"VERSE" constitutes an infringement of our client's trademarks under German trademark law,” the letter concluded, adding:
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