![]() ![]() Developer departure and community takeover By January 10, 2014, the development team stated that they had removed all references to West but instead "to a half-man-half-fish hybrid," a nod to a South Park episode in which West fails to realize why people are jokingly calling him a "gay fish." These actions were not sufficient to appease West's legal team and a lawsuit was filed against the creators of the coin, prompting them to sell their Coinye holdings and leave the project. ![]() ![]() In response to the legal threats, the development team changed the name of the currency from "Coinye West" to "Coinye" and moved to a new domain name. On January 6, 2014, Kanye West's lawyers sent the development team a cease and desist order on the basis that the then-unreleased currency constituted trademark infringement, unfair competition, cyberpiracy and dilution. The developers claimed that this was to cover unexpected legal and development costs. However, later statements from the developers confirmed that approximately 0.37% of the maximum money supply of Coinye had been reserved for the creators of the coin before launch. Early press materials promised a proper and fair release, with no pre-allocation of coins. and his development team to release the source code and mining software on January 7, a few days ahead of schedule. 1.3 Developer departure and community takeoverĬoinye was originally slated for release on January 11, 2014, but legal pressure prompted David P. ![]()
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