The owner of the famous influencer pet Peanut the Squirrel has filed a lawsuit against Binance, accusing the exchange of unauthorized use of his trademark and images.
Initiation of Legal Proceedings
Mark Longo, the owner of Peanut the Squirrel, filed a complaint against Binance, accusing them of unauthorized use of the 'PNUT' trademark and images of his pet. In his statement, Longo confirmed that his legal team has sent a cease-and-desist letter to Binance.
Justice for Peanut Token
Amidst a surge in meme coin popularity, Longo launched his token, 'Justice for Peanut' (JFP), declaring it the 'only real PNUT coin.' Initially, the token soared to a market cap of $116 million but has since dropped by 95%. Within the crypto community, some express skepticism, accusing Longo of exploiting the situation for financial gain.
Impact of Peanut the Squirrel in Crypto World
Peanut the Squirrel gained fame as a social media influencer, becoming a pivotal figure in the meme coin sector. The conflict between Longo and NYS DEC, coupled with the tragic demise of Peanut, spurred public outcry and attention toward coin creation related to the squirrel's name.
The story of Peanut the Squirrel highlights the intricate link between meme culture and the crypto economy, raising questions about the use of images and trademarks in the digital age.
