Mark Longo, renowned for his viral pet Peanut the Squirrel, has taken legal action against Binance. He issued a cease and desist letter, accusing the platform of misusing his intellectual property.
Legal Action Unveiled on Social Media
On December 16, Longo shared details of his legal stance through his X account, Squirrel_Dad. He alleged that Binance used images and narratives associated with his pets without proper authorization.
Copyright Violation Claims
Longo’s legal team accused Binance of breaching copyright laws and intellectual property rights. According to their claims, Binance used the “Peanut the Squirrel” name, the “PNUT” branding, and an image of Peanut wearing a cowboy hat to promote the PNUT token.
The token currently holds a market capitalization of $1.08 billion.
In the letter, Longo’s legal team stated:
“Your use of the phrase PEANUT THE SQUIRREL, the term PNUT, and the PNUT Image is identical to our client’s PNUT Marks… making them legally identical.”
The letter further warned that legal proceedings would follow if Longo’s rights were not acknowledged.
Binance’s Response Pending
As of now, Binance has not responded to CryptoSlate’s request for comment regarding these allegations.
Longo Vows to Protect Intellectual Property
In his X post, Longo hinted at further actions to safeguard his creative work. He emphasized his commitment to defending his intellectual property against unauthorized use.
He wrote:
“This is the first of multiple cease and desist letters to be issued. I’m committed to protecting my creative work and sending a clear message: unauthorized use of my IP will not be tolerated.”
Controversy Surrounding PNUT Tokens
The legal dispute sheds light on the growing popularity and conflicts within the peanut-themed meme coin ecosystem.
Peanut the Squirrel gained viral fame during the U.S. presidential election after Longo clashed with New York’s Department of Environmental Conservation (NYS DEC) over the seizure of Peanut and a raccoon in his care. Public outcry followed Peanut’s death, leading to widespread support for Longo.
This incident inspired the creation of various peanut-themed meme tokens, with PNUT emerging as a standout. Binance listed the token last month.
Justice for Peanut Token Gains Traction
Longo’s recent post highlighted the “Justice for Peanut” (JFP) token, which he referred to as the legitimate PNUT coin.
The ongoing dispute has significantly impacted token prices. CoinMarketCap data shows that PNUT has dropped by 5.6%, while JFP recorded a 10% increase in the past 24 hours.
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