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Key Takeaways
- Longo claims Binance used Peanut’s branding and imagery to promote the PNUT token without permission.
- Longo’s legal team stated that Binance violated copyright laws by using the name “Peanut the Squirrel,” the term “PNUT,” a copyrighted image of Peanut wearing a cowboy hat.
Mark Longo, the creator of Peanut the Squirrel, has filed a lawsuit against Binance, alleging unauthorized use of his intellectual property. Longo claims Binance used Peanut’s branding and imagery to promote the PNUT token without permission.
In a cease-and-desist letter shared on social media, Longo’s legal team stated that Binance violated copyright and trademark laws by using the name “Peanut the Squirrel,” the term “PNUT,” and a copyrighted image of Peanut wearing a cowboy hat. The letter argues that these actions create consumer confusion and falsely suggest an association between Longo and the PNUT cryptocurrency.
The PNUT token, which has a market capitalization of over $1 billion, was listed on Binance in November. In his thread on X, Longo claims the branding used for the token, including its name and imagery, directly infringes on intellectual property he has used since 2017 for educational and animal welfare projects. He further warned Binance to comply with his demands by December 31 or face potential legal action, including claims for damages and attorney fees.
Longo emphasized his intention to protect his creative work, stating that this legal move is the first of several actions planned to address alleged violations. “Unauthorized use of my intellectual property will not be tolerated,” he wrote on his X account.
Binance has not yet issued a public response to the allegations or the cease-and-desist letter.
Market activity surrounding the dispute has been mixed. While the PNUT token has experienced a slight drop in value, Longo’s recently introduced Justice for Peanut (JFP) token has faced significant losses, with its market capitalization falling sharply. Critics have questioned whether Longo’s promotion of JFP is linked to the legal dispute, though Longo has maintained that it is the only legitimate token tied to Peanut the Squirrel.
Peanut the Squirrel gained widespread attention during the 2020 U.S. presidential election following a dispute between Longo and the New York Department of Environmental Conservation. The agency seized Peanut and another animal in Longo’s care, and Peanut later died in custody.
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