While Facebook still has plenty of hurdles to face, including lawmakers and regulators in the US and UK, it will probably first have to explain to the CEO Stuart Sopp of startup bank Current as to why Calibra’s logo, which is a simple tilde mark within a circle, looks eerily similar to one that of Current.
In a recent tweet aimed at Facebook, Sopp says:
“I get we are a digital bank for everyone in the US with global ambitions. Trying to solve financial inclusion like you guys but stealing our logo / palette is low for even facebook.”
There is another tweet from the bank that compares the logos of the to companies with a not-so-subtle message, “This is what happens when you only have 1 crayon left.”
CEO Sopp was in Brainstorm Finance conference hosted by Fortune in Montauk, NY on Wednesday when someone pointed out the similarity between the two logos.
He told Fortune,”I’m deeply unhappy. I know what’s happened here. It’s just lazy, is what it is.”
Furious Sopp further explains, “We’re building our own banking technology. I don’t want this to cause confusion to our customers. And I don’t want to be associated with them if their cryptocurrency is a failure.”
The drama in this whole logo fiasco is further mystified by the fact that both companies – Calibra and Current – used the same San Francisco design firm, Character, to have their logos created. This has given rise to all sorts of conspiracy theories as it is hard to believe that all of this is somehow a mere coincidence.
I should note that circles and tildes are fairly common shapes used in logos. It makes sense for Calibra to use a single tilde in it’s logo (~) given that Libra, the digital currency it is designed for uses three vertically stacked tildes (≋). However that strikingly close resemblance between the logos of the two companies, especially when it is created by the same design firm, is too similar to ignore.
I am pretty sure there will be lawsuits involved to sort this mess out.
Pete is a huge cryptocurrency fan and loves to keep tab on how digital currency is transforming the world. A proud father to a son, he loves exploring nature in his downtime.