The trademark battle between FTX and NuGenesis is heating up, with both sides claiming they were the first to use the term "LedgerX" in Australia.
FTX claims they have been using the trademark since 2017, but LedgerX was designed as early as 2014. FTX recently acquired the US-based future trading platform, but it remains to be seen if that will help them win the trademark battle down under.
NuGenesis are the forefathers of the brand in Australia, and they are not backing down without a fight. It's yet to be seen who will come out on top in this heated dispute.
The Argument will come down, to who infact was the original LEDGERX In Australia. Will FTX claim that its recent purchase of future platform LedgerX in the US be enough. Meta recently withdrew its opposition to NuGenesis MetaRealm, Giving Nugenesis the win and finalization of its Meta Trademark down under.
What FTX will be asking itself, How did a company down under have the vision and scope to look at immutable ledger based trading systems, was nugenesis Truly one of the forefathers in Meta Trading Systems.
If NuGenesis can provide evidence to the earlier establishment of LedgerX In Australia They might just win this, FTX may have to concede. Only Time will tell.