China News Daily Official TheBitTimes.com

In a surprising move, Matter Labs, the crypto startup behind zkSync, has filed trademark application s for zero-knowledge (ZK) technology in nine countries. This action has sparked outrage within the ZK community, with Polygon (MATIC) and StarkWare Ltd. leading the charge against Matter Labs. Notably, a public manifesto, signed by a broad community including ZK technology inventors Goldwasser, now working at StarkWare, and Micali, now working at Algorand (ALGO), and founders of Starkware, Polygon, Polyhedra, and Kakarot, condemns Matter Labs’ actions. The manifesto states, “We believe that ZK is a public good that belongs to everyone.” What Polygon and other crypto players are saying about ZKSync’s trademark application In particular, Matter Labs claims it is registering the trademark to “protect the freedom of use of the term ZK” and invites other ZK projects to join this effort. However, Rebecca Rettig, Chief Legal & Policy O...

Congresswoman Maxine Waters raised concerns over Meta’s recent trademark filings related to crypto, seeking clarification on the company’s plans in web3. Rep. Maxine Waters (D-Calif.) sent a letter to Meta executives, seeking answers about Meta’s apparent intention to expand its involvement in the crypto ecosystem. Waters, who serves as the top Democrat on the House Financial Services Committee, conveyed her concerns through a letter addressed to Meta’s top executives, including CEO Mark Zuckerberg and COO Javier Olivan. The letter delves into inquiries about Meta’s strategic direction in web3 and explores its stance on stablecoin initiatives following Meta’s submission of five trademark applications related to crypto and blockchain products with the U.S. Patent and Trademark Office. “With its initial filings on Mar. 18, 2022, Meta’s application submissions as of Jan. 22 appear to represent a continued intention to expand the compan...

Li Lin’s company, X-Spot Co. Limited, has taken legal action against Huobi Global, filing a trademark infringement lawsuit in the High Court of Hong Kong. The lawsuit alleges that Huobi Global resumed using the “Huobi” trademark without X-Spot’s permission, despite X-Spot maintaining exclusive rights to the trademark. Exclusive rights In a June 21 release, Li Wei, the younger brother of Li Lin, the founder of Huobi Global, had his account blocked by Huobi Global advisor Justin Sun. The action was taken after Sun accused Wei of dumping Huobi Token (HT), causing significant price volatility. Sun reassured HT holders that the tokens sold by Wei would be removed from circulation to stabilize the token’s value.  Huobi founder Li Lin formally sued Huobi Global in Hong Kong for using its Chinese trademark 火币 that was not allowed to continue to be used in the original acquisition contract. Huobi was acquired by Justin Sun for over $1 billion last year. ...