Alibaba Wins preliminary Trademark Injunction Against Cryptocurrency Alibabacoin


Chinese e-commerce giant Alibaba Group Holding Limited has won a preliminary injunction against cryptocurrency firm Alibabacoin Foundation.

The legal victory centers on the use of the company’s name, or likeness, purportedly to promote the foundation’s similarly named virtual currency, according to Oct. 22 court documents in the U.S.’s Southern District of New York.

The case follows an attempt in April, which was denied on the grounds that “Alibaba has not met its burden to establish a reasonable probability that the Court has personal jurisdiction over Alibabacoin,” which is listed as being based in both Dubai and Belarus.

In the Oct. 22 filing, Alibaba said “with the benefit of evidence obtained through discovery” they believe that the cryptocurrency firm has published further promotional material that uses its trademarks to align itself with the Chinese conglomerate, which helped in its attempt to raise $3.5 million in an initial coin offering (ICO), a crowdfunding tool for crypto-related ventures.

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