Coinbase, which is a leading U.S. digital currency exchange, has reportedly withdrawn a trademark application for the industry term "BUIDL." As of Wednesday, at the website of the U.S. Patent and Trademark Office, the status of the application is listed as "abandoned." According to the Patent and Trademark Office, on December 14, Coinbase officially filed an intent to withdraw the application. Earlier, on October 2 of this year, Coinbase initially filed the trademark application. "BUIDL," which is an intentional misspelling of the word "BUILD," is a term popular within the cryptocurrency community. It refers to creating digital asset products for the purpose of advancing cryptocurrency technology, as opposed to using digital assets just for speculative purposes. In a way it is similar to the term "HODL," which is an intentional misspelling of the word "HOLD." "HODL" refers to holding digital currencies long-term, in disregard of current price fluctuations. Balaji S. Srinivasan, who is Coinbase's Chief Technical Officer, spoke about the trademark application earlier this month, in response to reports about it. He said that it was a "100% defensive filing" in that the company was thinking of launching a feature called "Coinbase BUIDL" and they did not want to attract what Srinivasan called "patent trolls." He further said that the company had no intention of preventing anyone in the cryptocurrency community from using "BUIDL." In spite of Coinbase's intentions, the trademark application ignited controversy, especially on Twitter, where many users there claimed that "BUIDL" had been in use well before Coinbase filed their trademark application. In recent weeks, Coinbase has launched a variety of new products and services as well as some new initiatives. This has been done in coordination with what Coinbase calls "The 12 Days of Coinbase," which is a reference to a popular song called "The 12 Days of Christmas." On December 14, the company announced that users could now withdraw fiat currencies directly to PayPal. Then, a few days later, they launched a service called Convert, which lets users easily convert popular digital currencies, such as Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin and 0x.