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Mark Longo, the owner of internet sensation Peanut the Squirrel, has taken legal action against cryptocurrency exchange Binance over alleged unauthorized use of his PNUT trademark.
The lawsuit centers around Binance’s usage of a cowboy hat-wearing squirrel in connection with the meme token PNUT. Longo claims that this infringes on trademarks he has used since April 2017, which include educational and animal welfare projects.
Longo, who has been vocal about his passion for Peanut and the associated intellectual property, emphasized the importance of this case, stating “This movement and the animals are LITERALLY everything to me.” He further pledged to bring “BILLIONS of eyes to this movement,” suggesting a broader mission beyond the immediate legal dispute.
The controversy emerges amidst significant market activity surrounding PNUT. The token experienced a 20% price surge following its addition to Coinbase’s listing roadmap, before plummeting by over 54% from its all-time high of $2.47 in November 2024.
It is important to note that Longo has already sent Binance a cease-and-desist letter demanding they halt all infringing activities by December 31. The dispute marks the beginning of a broader campaign to protect what he views as unauthorized uses of his intellectual property across the cryptocurrency space.
Peanut, once just an ordinary squirrel, became a global sensation following a rabies scare in October 2024. This incident triggered the creation and growth of the PNUT meme coin.
It remains to be seen whether Longo will succeed in his lawsuit against Binance.
Source: cryptotale.org
