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PNUT Memecoin Faces Legal Challenge from Peanut the Squirrel’s Owner
A significant legal challenge has been leveled against the PNUT memecoin by its creator, Peanut the Squirrel’s owner. The move comes as a shock to the crypto community, which has been closely following the developments surrounding the token.
According to sources close to the matter, Peanut the Squirrel’s owner has issued a cease and desist letter to Binance, demanding that they stop using his intellectual property rights without proper authorization. This is not the first time Longo has taken legal action against crypto exchanges for their use of Peanut’s image.
The recent move highlights the increased scrutiny of memecoins in the cryptocurrency market. Regulatory bodies have been examining the role and impact of these tokens on the broader ecosystem.
It is worth noting that Longo has a history with memecoins, having launched his own token called Justice for Pnut and Fred (JUSTICE) after expressing strong opposition to others profiting from Peanut’s image.
Source: blockonomi.com
