Posted: 12:08 p.m. Wednesday, Jan. 15, 2014
By Sarah Korones
In a move that proves that no one can use Kanye West’s name to gain fame and fortune other than Yeezus himself, the illustrious rapper has quickly put an end to “Coinye West,” the digital currency satirically named in his honor.
Kanye filed a lawsuit on Tuesday, January 15 to stop production of Coinye West, a new Bitcoin-like currency founded by seven anonymous coders. The lawsuit stated the creators of the currency “brazenly admit” to using Kanye’s name and image to promote their product.
“With each day that passes, Mr. West’s reputation is irreparably harmed,” the suit states. “Consumers are likely to mistakenly believe that Mr. West is the source of these digital coins.”
While the coin’s founders were prepared for Kanye to fight back against the currency, they apparently held out hope that he would love coins with his name on them.
“We’d love if Kanye name dropped Coinye,” the founders said during an interview earlier this year with Vice magazine. “I think he’s gonna love that there’s a CURRENCY named in his honor. We don’t want to pay him off to name check us, but it’d be sick if he does so.”
Once it became clear that Kanye wasn’t interested in the idea whatsoever, the currency’s founders attempted to get around Kanye’s lawyers. The anonymous group changed the name of the digital currency from “Coinye West” to “Coinye” and revamped the image on the coin to display a fish wearing shades rather than an image of Kanye’s face. The group also moved their website to one registered in India and pushed up their release date to January 7.
In the end, however, Yeezus prevailed. “COINYE IS DEAD,” the currency website declared. “You win, Kanye.”