Mark Longo sues Binance over alleged unauthorized use of his PNUT trademark
Longo’s cease-and-desist demands Binance halt all infringements by December 31.
The PNUT price is down by over 50% since its all-time high in November 2024.
Mark Longo, the owner of viral sensation Peanut the Squirrel, has started a legal action against cryptocurrency exchange Binance, alleging unauthorized use of his intellectual property. The dispute centers around the PNUT meme token and its associated imagery. Longo claims that it infringes on trademarks he has used since April 2017.
The cease-and-desist letter specifically targets Binance’s use of the PNUT trademark and imagery of a cowboy hat-wearing squirrel in connection with the cryptocurrency. Longo’s lawyers have demanded that Binance halt all infringing activities by December 31 and provide a formal response to the allegations.
The potential consequences of the dispute are substantial, with penalties for intentional trademark infringement potentially reaching $150,000 per violation. Longo emphasizes that his connection to Peanut and the associated intellectual property go beyond mere business interests. He even got a tattoo to show his commitment to what he describes as a “movement.”
“This movement and the animals are LITERALLY everything to me,” Longo stated on social media, emphasizing that his actions represent “the fight for justice.” He has pledged to bring “BILLIONS of eyes to this movement,” suggesting a broader mission beyond the immediate legal dispute.
The controversy comes amid major market activity for the PNUT token. Following its addition to Coinbase’s listing roadmap, the meme cryptocurrency experienced a 20% price surge. PNUT is down by over 54% from its all-time high of $2.47 from November 2024.
The origins of PNUT’s popularity can be traced to October 2024. This was when a rabies scare involving Peanut the Squirrel changed the animal into an internet phenomenon. This incident triggered the creation and growth of the PNUT meme coin. However, Longo maintains he has been using PNUT-related trademarks for educational and animal welfare projects long before the cryptocurrency’s emergence.
Longo’s legal team has indicated that this action against Binance is “the first of multiple cease and desist letters to be issued.” This suggests a broader campaign to protect what they view as unauthorized uses of Longo’s intellectual property across the cryptocurrency space.
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