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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. The dispute centers around the alleged unauthorized use by Binance of Longo’s intellectual property related to the PNUT meme token.
According to sources close to the matter, Longo claims that Binance has been using his trademarked imagery and branding without permission. This includes the use of a cowboy hat-wearing squirrel in connection with the cryptocurrency. The owner of Peanut the Squirrel is reportedly seeking an immediate halt to all infringing activities by December 31.
As part of this legal action, Longo’s lawyers have sent a cease-and-desist letter to Binance, demanding a formal response to the allegations. If Binance fails to comply, they risk facing significant penalties for intentional trademark infringement. The potential fines could be as high as $150,000 per violation.
The controversy surrounding PNUT has unfolded amidst significant market volatility. The meme cryptocurrency experienced a 20% price surge after being added to Coinbase’s listing roadmap before plummeting by over 54% from its all-time high of $2.47 in November 2024.
Source: cryptotale.org
