An unusual crypto saga is unfolding: Mark Longo, the former owner of a famous squirrel named Peanut, has filed a lawsuit against Binance, alleging unauthorized use of his pet’s image. According to Longo, Binance allowed the use of a squirrel-in-a-hat photo—allegedly Peanut’s—for the logo of the memecoin Peanut the Squirrel ($PNUT), traded on its platform.
Longo, now spearheading the Justice for Peanut ($JFP) movement, argues that this is a blatant misuse of his intellectual property.
The lawsuit, announced on social network X, has triggered a mix of reactions from the crypto community. Critics accuse Longo of misunderstanding how copyright laws work in the digital age, with some even claiming he’s looking only for personal gain.
The story of Peanut is already well-known among memecoin enthusiasts. The squirrel became a symbol after authorities forcibly removed Peanut from Longo and, tragically, put the animal to sleep. This incident sparked an outpouring of support in the form of memecoins, with $PNUT leading the charge. Within ten days of launch, the coin skyrocketed to a market capitalization of over $1 billion.
The community now watches closely as this drama plays out. Memecoins are notoriously vulnerable to sentiment shifts, and Longo’s high-profile litigation could stir volatility for $PNUT. Will the lawsuit drive the coin to new highs or spark a sell-off amid uncertainty?
For now, $PNUT holders and enthusiasts, the ball is in the court of public opinion—and perhaps a literal one, too. This is yet another reminder of how unpredictable the memecoin space can be. Stay tuned and keep an eye on those charts!