Peanut the Squirrel’s Owner Takes Legal Action Against Binance Over Trademark Infringement

Mark Longo Accuses Binance of Intellectual Property Infringement

Mark Longo, the owner of the late social media influencer Peanut the Squirrel, has filed a lawsuit against Binance, a leading cryptocurrency exchange. Longo alleges that Binance used the "PNUT" trademark and imagery of Peanut the Squirrel on its platform without authorization.

Defense of Intellectual Property

In a statement on social media, Longo stated: "My legal team has initiated action against Binance for the unauthorized use of my intellectual property, including images and stories featuring my beloved animals." He emphasized that he would not tolerate unauthorized use of his IP.

Amidst Meme Coin Boom

The lawsuit unfolds during a surge in activity in the meme coin market. Longo recently launched the "Justice for Peanut" (JFP) token, claiming it as the "only real PNUT coin."

Initial success was followed by a sharp decline in the token's value, leading to skepticism within the crypto community. Some have accused Longo of exploiting the situation for financial gain, citing his previous ventures involving multiple crypto projects.

Peanut's Legacy in Crypto

Peanut the Squirrel gained fame on social media and became a prominent symbol in the meme coin ecosystem. Longo's pet became the inspiration for several cryptocurrency tokens.

Controversy erupted when Peanut was confiscated by the New York Department of Environmental Conservation (NYS DEC), which cited animal welfare concerns. Peanut's tragic death while in NYS DEC custody sparked public outrage.

This incident added to Peanut's legacy, further propelling the creation of meme coins based on the squirrel's image and name. One notable token, PNUT, gained substantial attention after its launch and subsequent listing on Binance.