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Coinbase Has Dropped Its Bid to Trademark 'BUIDL'
Coinbase has withdrawn its trademark application for "BUIDL," a popular term used by some segments of the cryptocurrency community.
Coinbase is no longer seeking to trademark the term "BUIDL" following a critical response on social media.
As confirmed by the U.S. Patent and Trademark Office, the exchange moved to abandon its trademark application for the cheeky cryptocurrency misspelling on Dec. 14. The expedited request was approved on Dec. 17.
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The move comes after Coinbase's CTO, Balaji Srinivasan, issued a mea culpa of sorts following coverage of the Oct. 2 trademark application earlier this month.
Saw the commotion on Twitter & dug into this. Coinbase filed the trademark for BUIDL some time back. I learned about it today & chatted with team. TLDR is that @brian_armstrong & I don’t believe in trademarks for stuff like this so we’ll be giving this one back to the community.
— Balaji Srinivasan (@balajis) December 6, 2018
BUIDL – in contrast to the more popular HODL – has come to suggest that building out real-world use cases is just as valuable as the hoarding of crypto assets.
CoinDesk first noted the term following a talk by Srinivasan in April 2015, when he was chairman of 21 Inc (which later rebranded as Earn.com).
Coinbase declined to comment further.
U.S. Patent and Trademark Office image via Shutterstock
Zack Seward
Zack Seward is CoinDesk’s contributing editor-at-large. Up until July 2022, he served as CoinDesk’s deputy editor-in-chief. Prior to joining CoinDesk in November 2018, he was the editor-in-chief of Technical.ly, a news site focused on local tech communities on the U.S. East Coast. Before that, Seward worked as a reporter covering business and technology for a pair of NPR member stations, WHYY in Philadelphia and WXXI in Rochester, New York. Seward originally hails from San Francisco and went to college at the University of Chicago. He worked at the PBS NewsHour in Washington, D.C., before attending Columbia’s Graduate School of Journalism.
