Calibra, Facebook’s 2020 cryptocurrency project, now has its logo under scrutiny after a recent lawsuit was filed against the company. It seems Facebook may have copied design hints from another financial-tech company’s logo, Current.
This is a funny way to try and create trust in a new global financial system – by ripping off another fintech firm.Stuart Sopp to CNBC
Current has filed a lawsuit against Facebook, on the basis of trademark infringement. The company argues that the similarity between the two logos makes it confusing. Another interesting fact, in this case, is that both companies’ logos were created by the same designer: Character, a San Fransico branding company.
Continue Reading: Stranger Things Season 3 mall is about to be sold
Character is also a defendant in the legal battle between Facebook and Current.
It is probable that this is mostly a mistake on Character’s part, as designing the same logo, with the same colors, for similar financial-tech ventures is highly suspicious. This easily could have been overseen and detected.
Calibra’s problems do not end there, as recent anti-trust allegations against Facebook is bringing the initiative under a lot of international criticism. Major backers of Calibra such as PayPal, eBay, Mastercard, and Visa have backed out of supporting Facebook’s cryptocurrency initiative.