The company behind the clothing brand Original Penguin has accused Pudgy Penguins’ clothing merchandise of infringing on its trademarks. PEI Licensing, the firm behind the clothing brand Original Penguin, has filed a lawsuit against the nonfungible token project Pudgy Penguins, alleging trademark infringement, dilution and unfair competition. The lawsuit, filed Wednesday in a Florida federal court, focuses on Pudgy Penguins’ apparel, alleging the company uses a “family of penguin trademarks that are confusingly similar” to PEI’s marks. “This action results from Defendant’s unauthorized use and attempted registration of various PENGUIN word and design trademarks in connection with apparel and related goods and services that are confusingly similar to PEI’s federally registered and famous PENGUIN and penguin design trademarks,” PEI said in its complaint. Read more
The altcoins with “real world” traction and application will be the winners of the next altcoin season, says Bitwise’s Matt Hougan. Altcoins with real-world traction and applications will be the winners of the next altcoin season, according to Bitwise investment chief Matt Hougan. The euphoric altcoin seasons in which almost every cryptocurrency rises across the market are probably not coming back, Hougan said. “I think that game is over. I think we’ll see a non-traditional altcoin season,” he said in an interview on Wednesday. “An altcoin season that rewards assets with real-world traction and applications.” Read more
“Even after the recent price rally, fundamental and technical indicators still point to a bear market environment,” said CryptoQuant. Bitcoin staged a brief relief rally above $74,000 on Thursday, but it has already petered out as analysts predict a persistent bear market will keep momentum subdued. “Bitcoin is still in a bear market despite the recent rally,” on-chain analytics company CryptoQuant said on Thursday. The platform’s Bull Score Index, a composite indicator that measures the overall health of Bitcoin (BTC) using a combination of fundamental and technical metrics, remains at 10 out of 100, “deep in bearish territory,” it said. Read more