Peanut the Squirrel Owner Threatens Legal Action Against Exchanges Over PNUT Meme Coin Listings
In a bold and controversial move, Mark Longo, the owner of the viral sensation Peanut the squirrel, has vowed to sue crypto exchanges that list the PNUT meme coin, claiming trademark infringement. The drama surrounding the meme coin and its connection to Peanut has reached a boiling point, with Longo alleging unauthorized use of his intellectual property, including images and stories of his beloved animal, which has captivated millions.
Peanut, who became a national figure after his heart-wrenching seizure and euthanization by the New York State Department of Environmental Conservation (NYSDEC), gained a massive following on Instagram through Longo’s social media efforts. The squirrel’s fame skyrocketed after his tragic death, with supporters rallying around the cause and even turning his legacy into meme coins.
However, things have taken a legal twist. The PNUT meme coin, which soared to a $2.27 billion market cap just days after its launch, was listed on major crypto exchanges like Binance and Coinbase. But Longo isn’t pleased with these exchanges' decision to list the token. In a fiery post on X (formerly Twitter), Longo declared that his legal team had already initiated action against Binance for what he claims is the unauthorized use of his intellectual property.
“This is the first of multiple cease-and-desist letters to be issued,” Longo wrote. “I’m coming for all the money earned from my IP on all exchanges. They will end up having to delist and pay serious [cheddar].”
Longo’s decision to pursue litigation has divided opinion. Some see it as an opportunity to assert his rights over the viral meme coin, while others question whether this move is a calculated attempt to profit from the unexpected success of the meme coin.
Regardless of the public opinion, the battle between Longo and the crypto exchanges seems far from over. The future of the PNUT meme coin on platforms like Binance and Coinbase could be at risk as legal tensions rise, making this a high-stakes situation for all involved.
Stay tuned for updates on this legal showdown and whether the crypto world will see a major shift in how meme coins are handled on top exchanges like Binance.
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