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Binance News: Legal Battle Brews Over Peanut the Squirrel Trademark Binance, one of the largest cryptocurrency exchanges, is under fire for allegedly using intellectual property without permission. Mark Longo, the owner of “Peanut the Squirrel (PNUT),” recently stated that he had sent a cease-and-desist letter to Binance through his legal team. Binance Faces Trademark Dispute In his statement, Mark Longo said that his legal team sent a cease-and-desist letter to Binance. He claimed that Binance used the “PNUT” trademark and the well-known image of Peanut the Squirrel on their platform without permission. These are not just simple designs but part of Longo’s brand, which he believes Binance has violated. Mark Longo, the owner of Peanut the Squirrel, said in a post that he had sent a cease-and-desist letter to Binance through his law firm, alleging that Binance had used a number of intellectual property rights, including the PNUT trademark and the image of a squirrel wearing a cowboy hat, without authorization. Meanwhile, Longo’s statement highlights the importance of intellectual property in today’s digital world. He pointed out that global platforms like Binance need to be careful about respecting copyrights and trademarks. For Longo, PNUT’s image and branding represent years of hard work and creativity, which he feels have been unfairly used. What Could Happen Next? As of now, Binance has not issued an official response to these allegations. If Binance fails to respond or address the issue, Longo may escalate the matter further with legal proceedings. For now, the focus remains on Binance’s reaction to the cease-and-desist letter and whether they will take steps to resolve the dispute. However, This isn’t the first time Binance has faced legal challenges. Over the years, the platform has navigated regulatory scrutiny worldwide, but this dispute over a trademarked squirrel adds a peculiar twist to its legal troubles. #PeanutCoin #Binance #Altcoins #Memecoins #CryptoNews
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Binance News: Legal Battle Brews Over Peanut the Squirrel Trademark
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Donald Trump Bitcoin Reserve Plan Aligns with FASB’s New Crypto Accounting Rules The U.S. Financial Accounting Standards Board (FASB) has introduced a groundbreaking update that’s set to change how companies account for Bitcoin and other eligible crypto assets. Starting today, businesses can measure their Bitcoin holdings at current market prices, making financial reporting more accurate and transparent. Starting fully in 2025, the change could drive more firms to adopt Bitcoin as a reserve asset. Following the two breaking news, Bitcoin surged above $105,000 today, adding U.S. President-elect Donald Trump’s comments about creating a strategic Bitcoin reserve, similar to the country’s oil reserve. The cryptocurrency hit a high of $105,142 before settling at $104,609. It has seen a 55% rise post-election, with a whooping trading volume of $62B. What’s Changing? This update, highlighted by Pete Rizzo of Bitcoin Magazine in a post on X, reflects a significant shift in how companies report their cryptocurrency holdings. Rizzo referenced a prior post by Michael Saylor, co-founder of MicroStrategy, to emphasize the importance of this change. Until now, companies recorded Bitcoin at its purchase price. If the value dropped, losses were reported, but if it went up, the gains weren’t included. This created a major gap in how companies reflected their true financial standing. With the new rules, Bitcoin’s value will now be updated in financial statements every reporting period, showing both profits and losses based on market prices. This change makes life easier for companies holding Bitcoin as a reserve asset. Big names like MicroStrategy and Tesla, which are known for their Bitcoin investments, will now have a smoother reporting process. Investors, creditors, and stakeholders will also get a clearer picture of a company’s financial health, making it easier to assess risks and performance. #DonaldTrump #TrumpBitcoin #BTC #USACrypto #CryptoNews
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Donald Trump Bitcoin Reserve Plan Aligns with FASB’s New Crypto Accounting Rules
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Why Bitcoin Is Going Up Today: Key Drivers Behind the Historic $106k Surge Bitcoin hits $106k ATH as ETFs, whale activity, and rising adoption push crypto market cap near $4T. Is $120k next? BTC dominance climbs to 57.38% as mainstream adoption grows, fueled by ETFs, nation-state reserves, and institutional interest. Bitcoin (BTC) price surged over 2 percent in the past 24 hours to reach a new all-time high (ATH) of about $106,352 for the first time in 16 years of existence. As a result, the total crypto market cap is only $130 billion shy of hitting $4 trillion for the first time since inception. Bitcoin dominance continued to gain more ground over the altcoin industry, despite the rising demand for utility altcoins. Since the beginning of December, Bitcoin dominance has surged around 4 percent to hover about 57.38 percent on Monday, December 16, during the early London session. Bitcoin Price Aims for $120k Next Bitcoin price has already reached the psychological target of $100k and more traders are long in the short term. According to legendary trader Peter Brandt, Bitcoin price is well positioned to reach $120k soon as it continues to gain more ground against the Gold market. From a technical analysis standpoint, Bitcoin price has broken out of an ascending triangle pattern in the daily time frame. Although the bulls are in control, a potential retest of the bullish breakout could see Bitcoin price tease below $100k to potentially flash the long traders. Mixed Reactions from Whale Investors As the Bitcoin price rallied above $101k again, whale activities remained relatively high in the past few days. According to market data from Coinglass, the supply of Bitcoin on centralized exchanges declined by over 37k in the past seven days to hover about 2.25 million at the time of this writing. The US spot BTC ETFs accounted for huge demand last week, with a net cash inflow of about $2.17 billion, led by BlackRock’s IBIT and Fidelity’s FBTC. #BitcoinSurge #BTC106K #BitcoinATH #cryptocurrency #CryptoNews
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