Looks like the terrible, terrible, bad, bad week for the Libra is not over yet. In addition to important backers like PayPal eBay, Stripe, Visa and Mastercard, which support Facebook's crypto currency project, has now turned its logo into the center of a lawsuit over alleged trademark infringements.
The logo of Calibra, a Facebook subsidiary founded to monitor the digital currency and its planned launch in 2020, resembles a logo that the company created shortly after for the mobile banking app used] Libra Announcement in June.
"This is a fun way to create confidence in a new global financial system ̵
In fact, this was so similar that the company filed a complaint against Facebook and cited the Calibra logo on Thursday. " Not just confusingly similar, but virtually identical to the current brands. "
And it's true, the Calibra logo looks like the brand equivalent of copying the homework of another company. Probably because that's exactly what happened: both logos were allegedly created by the same designer, a San Francisco brand company called Character, according to CNBC. The character is also named as a defendant in the lawsuit. The company did not immediately respond to Gizmodo's request for comment.
Since the two are probably three years apart, it is possible that each logo comes from completely different teams of the design company. After all, a distorted line in a circle is not a trend-setting design. But so that both are created for digital financial companies and that use the same color palette? That's damn shady.
This lawsuit is just the latest blow against Facebook's cryptocurrency company before it even gets started. The Libra has initiated an international review by bank and cartel officials, with recent reports that the DOJ and the FTC have only launched antitrust investigations against the technology giant to fuel this suspicion. Probably to avoid similar inquiries, five of the 28 supporters of the founding company who wanted to head the Libra regulatory agency completed the project last week.
Gizmodo has turned to Current and Facebook and will update this article with their answers.