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Squirrel Dad Sends Legal Warning to Binance for Alleged Misuse of PNUT Branding
In a shocking turn of events, Mark Longo, better known as Squirrel Dad, has taken legal action against the world’s largest cryptocurrency exchange by market value, Binance. The 2020 viral sensation is accusing the exchange of unauthorized use of his intellectual property, including images and trademarks tied to Peanut the Squirrel.
For those unfamiliar with the story, Mark Longo gained widespread attention after rescuing a male eastern grey squirrel, which he later named Peanut. The internet’s fascination with the adorable creature led to an Instagram account, “P.NUT Sanctuary,” where the animal’s antics were chronicled. However, the story took a tragic turn when the New York State Department of Environmental Conservation seized Peanut from Longo’s home and euthanized it after testing positive for rabies.
In his letter to Binance, shared on X, Longo claims that the exchange has been using PNUT branding for cryptocurrency-related services without permission. As a result, he is demanding that Binance cease and desist from any further violations of his intellectual property rights. Furthermore, he requests confirmation by December 17, stating that failure to comply will leave him no choice but to pursue legal remedies under the U.S. Copyright Act.
The latter provides penalties for wilful infringement, potentially reaching as high as $150,000. At the time of writing, Binance had not responded to the letter.
This development comes amid a backdrop of intense scrutiny surrounding meme coins and their potential impact on the market. It is crucial for investors to remember that these tokens are often unbacked by tangible assets or a clear use case, leaving them susceptible to sharp price swings.
As Squirrel Dad’s legal battle unfolds, it will be intriguing to see how this situation plays out, particularly in light of the recent market volatility.
Source: cryptopotato.com
