Ownership Dispute Escalates: Peanut Squirrel Owner Takes Legal Action Against Binance

Peanut the Squirrel Owner Sues Binance Over PNUT Trademark

In a shocking turn of events, Mark Longo, the owner of viral sensation Peanut the Squirrel, has taken legal action against cryptocurrency exchange Binance, alleging that the platform has engaged in unauthorized use of his intellectual property. The dispute centers around the PNUT meme token and its associated imagery.

According to reports, Longo’s legal team has sent a cease-and-desist letter to Binance, demanding an immediate halt to all infringing activities by December 31st. This move comes on the heels of Coinbase listing the PNUT token on their roadmap, resulting in a massive price surge of over 20%.

However, this positive momentum was short-lived as the cryptocurrency has since plummeted by more than 54% from its all-time high of $2.47 reached in November 2024.

The origins of PNUT’s popularity can be traced back to October 2024 when Peanut the Squirrel became an internet phenomenon due to a rabies scare involving the animal. This unexpected twist led to the creation and growth of the meme coin, but Longo maintains that he has been utilizing PNUT-related trademarks for educational and animal welfare projects long before the cryptocurrency’s emergence.

In a statement on social media, Longo emphasized his strong connection to Peanut and its associated intellectual property, stating that it goes beyond mere business interests. He even got a tattoo to demonstrate his commitment to what he describes as a “movement.” This is not just about intellectual property; it represents a broader mission for Longo.

The implications of this legal action are far-reaching, with potential penalties for intentional trademark infringement reaching $150,000 per violation. It seems that this dispute may be the tip of the iceberg, as Longo’s legal team has indicated that this suit is merely “the first of multiple cease and desist letters to be issued” in order to protect what they view as unauthorized uses of his intellectual property across the cryptocurrency space.

As this story continues to unfold, it remains unclear whether Binance will comply with Longo’s demands or take further legal action.

Source: cryptotale.org