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.
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.
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.
Coinbase declined to comment further.