Josh Gerben, a trademark attorney with Gerben Intellectual Property, has suggested the company formerly known as Twitter could spend upward of $100 million in dealing with litigation as a result of the X rebranding.
In a July 25 X thread, Gerben predicted that lawsuits against X related to trademark infringement could appear in United States courtrooms “in the next few weeks,” with legal problems on the international stage likely to be a “very big issue” for years. U.S.-based companies including Microsoft and Meta already own similar “X” trademarks for different products and services, and many others may have grounds for a lawsuit against X.
“To cast aside an asset this valuable [the blue bird] in favor of a new trademark is unprecedented in history,” said Gerben. “If Elon had stuck with the Twitter brand, his company would likely not spend a dime to justify its Twitter trademark on just about anything he wanted to do with the brand.”
Former Twitter CEO Elon Musk announced the rebranding would be taking place on July 23, with the company’s iconic blue bird being replaced by a black and white “X” logo. X Corp is the parent company of Twitter, established by Musk in March. The platform’s search bar still bears its former namesake at the time of publication, as does the blue “tweet” button and retweet counter.
Many on the platform have criticized the rebranding as not well thought out. Musk himself was unable to provide a definitive answer as to the new name of a retweet in a July 24 thread. He has also hinted that users should expect to conduct their “entire financial world” on the X platform with plans to offer services affecting “half of the global financial system.”
The move is the latest controversy by one of the biggest social media platforms in the world. Musk took over Twitter in October 2022 following a $44 billion agreement, later firing members of the company’s executive team and phasing out the platform’s legacy verification system — blue checkmarks — in favor of various paid options.
Though Musk briefly changed the Twitter logo to that of the Dogecoin (DOGE) shiba inu in April, many on the platform speculated at the time that the decision was only temporary. For the rebranding to X, the company’s logo on its brick-and-mortar headquarters in San Francisco may soon change from a bird to a letter:
After 17 years with the iconic blue bird logo, billionaire Elon Musk had the Twitter sign removed from the San Francisco, California headquarters as the social media company rebrands to X. https://t.co/ZJdgeOV3uVpic.twitter.com/UIie1S5T1j
Under Musk, U.S. advertising revenue for Twitter reportedly dropped roughly 59% from April to May compared to that over the same period in 2022. Former NBCUniversal exec Linda Yaccarino took over as CEO in May, while Musk continues to actively post on the social media site.
Sir Keir Starmer continues to face the threat of a major rebellion during a key vote on welfare reforms later – despite making last-minute concessions to disgruntled Labour MPs.
Work and Pensions Secretary Liz Kendall has confirmed that all existing claimants of the personal independence payment (PIP), the main disability benefit, will be protected from changes to eligibility.
The combined value of the standard Universal Credit allowance and the health top-up will rise “at least in line with inflation” every year of this parliament.
And an additional £300m for employment support for sick and disabled people in 2026 has been announced, which will rise every year after.
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10:54
Welfare cuts ‘needed to be made’
Ms Kendall has also promised that a consultation into PIP – “co-produced” with disabled people – will be published next autumn.
She said the U-turn on welfare cuts will cost taxpayers about £2.5bn by 2030 – less than half the £4.8bn the government had expected to save with its initial proposals.
But after announcing the U-turns, Labour MPs were still publicly saying they could not back the plans as they do not go far enough to allay their concerns.
Disabilities minister Stephen Timms would not say he was “confident” the proposals would pass the Commons when asked on Sky News’ Politics Hub with Sophy Ridge.
“We’ve got a very strong package, I certainly hope it passes,” he replied.
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1:49
‘Disabled people thrown under the bus’
A total of 86 charities united yesterday to call on MPs to reject the reforms, saying they will harm disabled people and calling it “a political choice”.
The likes of Oxfam, Child Action Poverty Group, Mind and Shelter said the bill has been brought to a vote without consulting disabled people and without any assessment “of its impact on health and employment outcomes”.
When asked to name “a single” disability organisation in favour of the reforms, Ms Kendall declined to do so.
Several Labour MPs indicated they would still vote against the changes, leaving the government in the dark over how big a rebellion it still may face.
Ms Kendall tried to allay their fears, telling MPs: “I believe we have a fair package, a package that protects existing claimants because they’ve come to rely on that support.”
Richard Burgon presented a petition to parliament yesterday evening against the cuts, signed by more than 77,000 people.
Several Labour MPs questioned why the vote was going ahead before the review into PIP is published – including Rachael Maskell, who said she could not “countenance sick and disabled people being denied support” and added: “It is a matter of conscience.”
Connor Naismith said the concessions “undoubtedly improve efforts to secure welfare reform which is fair”, but added: “Unfortunately, I do not believe these concessions yet go far enough.”
Image: Labour rebel Nadia Whittome said the government was ‘ignoring’ disabled people
Nadia Whittome accused the government of “ignoring” disabled people and urged ministers to go “back to the drawing board”.
Ian Byrne told the Commons he will vote against the “cruel cuts” to disability benefits because the “so-called concessions go nowhere near far enough”.
The vote will take place this evening, with coverage on Sky News’ Politics Hub live blog and on TV.
Other crypto firms are also reportedly considering applying for a national bank charter, following in the footsteps of Anchorage Digital Bank, which received a license in 2021.
A lower court ruling will stand in a case involving a Coinbase user who filed a lawsuit against the IRS after the crypto exchange turned over transaction data.