A new cryptocurrency hit the markets recently, and its name didn\u2019t sit well with the Chinese retail giant Alibaba. The coin, Alibabacoin, was seen as infringing on Alibaba\u2019s name, so Alibaba did what any company would do\u2014it sued. Unfortunately, a judge didn\u2019t see it through the same eyes and has now thrown out the suit, Reuters reported. Alibaba filed its complaint against the Dubai-based group on April 2. It accused Alibabacoin of an \u201cunlawful scheme to misappropriate\u201d Alibaba\u2019s brand name \u201cin order to deceive investors in the U.S. and around the world.\u201d It argued that the company had used Alibaba\u2019s name to raise more than $3.5 million through its initial coin offering (ICO), and that the company is not registered nor approved by regulators in the United States. A judge issued a temporary restraining order subsequent to the suit; however, the judge who presided over the case, J. Paul Oetken, determined that Alibaba has no jurisdiction in the U.S. It also decided that, since China bans all ICOs, there could not be any possible confusion. In reaching his decision, the judge stated, \u201cAlibaba did not show he had jurisdiction, having failed to establish a \u2018reasonable probability\u2019 that Alibabacoin\u2019s interactive websites were used to transact business with customers in New York.\u201d Judge Oetken further elaborated on his decision, adding, \u201cAny injury Alibaba might have suffered to its business, goodwill and reputation from alleged trademark infringement likely occurred in China, where the e-commerce retailer is based.\u201d Alibabacoin was founded by Jason Daniel Paul Philip, who currently serves as the company\u2019s CEO, and Hasan Abbas, its chief technology officer. It has offices in Dubai and Minsk, Belarus, and began offering its ICO in March. The ICO will be conducted in phases, with the first having taken place between March 1 and March 15, according to the company. A second phase was scheduled to begin on March 16, but the company hasn\u2019t updated its information to show whether that phase took place. Nor has the company updated its website to indicate how much it has collected to date. The lack of updates and public information are enough to create a less-than-confident opinion of the company. Requests for comments have gone unanswered and more potential investors are now questioning the legitimacy of the cryptocurrency. In a statement to CoinGeek, a spokesperson for the Alibaba Group said the eCommerce giant planned to submit a new motion. \u201cAlibaba Group is not affiliated with the ABBC Foundation. The court\u2019s ruling on April 30 was with respect to jurisdiction. We will be submitting a new motion and are confident we will be able to put an end to this willful, concerted and unlawful scheme by the ABBC Foundation to exploit Alibaba Group trademarks," the spokesperson said.