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Circle Internet Group Takes Legal Action Against Meme Coin 'Just A Circle ($CRCL)' Amid Trademark Dispute
Circle Internet Group, the company behind the widely used stablecoin USD Coin (USDC), has filed a lawsuit against meme coin ‘Just A Circle ($CRCL)’ for alleged trademark infringement. This legal action, reported by Cryptopolitan on October 21, has ignited controversy within the cryptocurrency industry. The dispute follows the coin's launch by Bonk.Fun on June 18, which generated significant buzz in online communities.
Trademark Dispute and Solscan's Involvement
The conflict took a turn shortly after the launch of ‘Just A Circle,’ when its ticker symbol, originally listed as $CRCL, was renamed to 'SPL Token' on the Solscan platform. Solscan cited concerns about possible "copyright or trademark issues" as the reason for the ticker modification. On July 7, a community member contacted Solscan via email to inquire, prompting confirmation that Circle had filed a trademark infringement complaint through its legal representatives.
In response, Just A Circle called for the withdrawal of the Digital Millennium Copyright Act (DMCA) claim in a post on X (formerly Twitter), appealing to Solscan and Circle for a fair review of what the community termed "baseless allegations." This public demand sparked a dramatic reaction in the market, with Just A Circle’s market capitalization skyrocketing from $500,000 to $15 million in just 15 minutes, though it later dropped to $1.44 million at the time of writing.
Community Defiance and Calls for Support
The meme coin’s community has not shied away from the legal fight, taking a confrontational approach to counter Circle’s allegations. In a widely shared AI-generated video posted on X, a narrator ridiculed Circle, accusing the company of failing to "play in the sandbox."
Supporters have also mobilized across platforms like Reddit, actively reaching out to Solscan and Circle executives—including Circle CEO Jeremy Allaire and General Counsel Sarah Wilson—through direct emails. Furthermore, members are urging the broader Bonk ecosystem to lend its backing. In a bold and unconventional move, some community members even proposed sending $CRCL reward funds directly to Allaire’s Solana wallet address as a form of protest.
One community member voiced their frustration, stating, "It’s ridiculous for a $50 billion corporation like Circle to go after a $500,000 meme coin." They accused Circle of perpetuating "crypto-on-crypto aggression" and argued that blockchain, at its core, is meant to remain open and decentralized. The individual further criticized Circle's actions, claiming they represent an attempt by legacy financial technology (FinTech) players to impose restrictive rules that favor established corporations.
Circle’s History of Ticker-Related Controversies
This isn’t the first time Circle has made headlines over a ticker-related dispute. Earlier this year, on June 5, Circle secured a listing on the New York Stock Exchange under the ticker symbol CRCL. However, confusion ensued as Corcel PLC, an existing oil and gas company, had already been using the same ticker symbol. The similarity caused some investors to mistakenly purchase Corcel shares, leading to a shocking price surge of 16,689% within hours.
Trademark Wars in Crypto: The Bigger Picture
Trademark-related disputes like the one surrounding Just A Circle are not new to the cryptocurrency space. In 2022, a Solana-based meme coin called CHILLGUY generated significant attention after using copyrighted ‘Chill Guy’ artwork created by artist Phillip Banks without proper authorization. The unauthorized usage pushed CHILLGUY’s market valuation to a staggering $580 million, prompting Banks to issue a copyright takedown request to protect his intellectual property.
The unfolding Just A Circle lawsuit highlights the growing tension between innovation and regulation in the cryptocurrency landscape. As blockchain projects continue to push boundaries, legal battles over intellectual property rights are becoming increasingly common—underscoring the need for clearer guidelines in this rapidly evolving industry.
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