According to CoinDesk, U.S. supermarket chain Trader Joe's has filed a complaint against decentralized exchange (DEX) Trader Joe, alleging federal trademark infringement. The filing states that the defendants operate a cryptocurrency platform called 'Trader Joe' and use the domain name traderjoexyz.com. The platform is named after the supermarket and has developed a narrative around a fictionalized 'Trader Joe' who sells his crops in the local marketplace, further evoking Trader Joe's business and brand.

This complaint could negatively impact the prices of Trader Joe's JOE tokens, which have already seen a 4.5% decrease in the past week, as traders may react to the legal orders. Trader Joe is one of the most popular decentralized exchanges, initially starting on the Avalanche network before expanding to BNB Chain, Arbitrum, and Ethereum. The exchange holds over $77 million in various tokens across offered chains and processed over $25 million in trades in September.