Alibaba Group in Trademark Fight with Alibabacoin Foundation

The Dubai-based cryptocurrency firm Alibabacoin Foundation said Alibaba Group Holding Ltd cannot monopolize the “magical” Alibaba name, and asked a U.S. judge to dismiss the Chinese e-commerce retailer’s trademark lawsuit. In a filing with the U.S. District Court in Manhattan, Alibabacoin rejected the claim that consumers would be confused into thinking Alibaba supported its alleged effort to raise money in the cryptocurrency market.