Mark Longo, the owner of the now deceased influencer squirrel Peanut, has filed a lawsuit against the crypto exchange Binance, accusing the platform of using his famous pet's images and stories without permission.
Lawsuit Against Binance
Longo claims that Binance’s use of his intellectual property infringes on his rights and harms the originality of his creative work. In a statement on his X account, Squirrel\_Dad, Longo said, “My legal team has initiated action against Binance for the unauthorized use of my IP.”
Market Reaction
Despite the ongoing legal battle, the market response has been relatively quiet. Peanut the Squirrel (PNUT) token has dropped only 0.85% in value over the past 24 hours, trading at $1.12. Longo has also launched a new token, Justice for Peanut (JFP), claiming it is the only real PNUT coin. However, JFP has experienced a significant decline, falling over 95% from an initial market cap of $116 million to just $3 million today.
Popularity of Peanut
Peanut the Squirrel gained massive attention during the US Presidential election, especially after a tragic incident in which Peanut died in custody after being taken from Longo by New York’s Department of Environmental Conservation. This, along with the growing popularity of meme coins, has kept Peanut in the spotlight, even leading to PNUT’s listing on Binance.
Mark Longo's legal battle with Binance and the impact of Peanut the Squirrel's story on the digital currency market continue to capture public attention.
