Fintech Startup Says That Facebook’s Cryptocurrency Project Calibra Has Copied Its Logo
Current, an online bank claims that Facebook’s cryptocurrency project Libra’s logo matches up with the company’s logo. The Wall Street trader who turned into CEO of the company said CBNC that Facebook and Current have used the same San Fransico based design firm, “Character” in 2016.
“This is a funny way to try and create trust in a new global financial system – by ripping off another fintech firm,” Sopp said in a phone interview. “Facebook has all the money and resources in the world. If they truly wanted to make banking more inclusive and fair, they should’ve come up with their own ideas and branding, like we have.”
Current, currently have 45 employees and 350,000 accounts which is comparatively small then Facebook’s grand vision that was touted by David Marcus, head of the Libra project. The company is looking forward to partner with 27 companies. He said that it can be used for daily life payments and Calibra was formed to solve the daily life struggles where if you want to send $10 in Canada, no one knows where to start with but now they know that Calibra exists. David also stated that existing financial systems is not serving large swaths of people and this led to the formation of Libra and Calibra.
The CEO of Current said that he has stopped working with Character and trademarks of the logo are still pending since 2016. “We put six months of hard work into this with that design firm, which they basically reused for Facebook without changing much,” Sopp said. “Facebook is a big company that should have done their due diligence on this.”
Sopp tweeted the similarities between the two logos and directly sent it to Cameron and Tyler Winklevoss, the Harvard twins who famously claimed that Facebook founder Mark Zuckerberg stole their idea for a social network. He tweeted, “Now I know how you guys felt,”