Mark Longo, owner of the famous squirrel Peanut, has filed a lawsuit against the cryptocurrency exchange Binance, claiming unauthorized use of her likeness for the $PNUT token.
Reason for the Lawsuit
Mark Longo, the owner of viral internet sensation Peanut the Squirrel, has filed a lawsuit against Binance. The lawsuit alleges that the crypto marketplace used Peanut's image and branding without permission for the listing of the $PNUT token, thus violating intellectual property rights.
Plaintiff's Demands
Longo demands the removal of all materials featuring Peanut's likeness from Binance's platform by December 31, 2024. This case highlights growing concerns over intellectual property misuse in the cryptocurrency sector, where token branding can often intersect with existing trademarks or well-known figures.
Implications for the Crypto Industry
The resolution of this case could set a precedent for handling intellectual property rights within the rapidly evolving crypto environment. Both Binance and Longo's legal team have yet to provide further comments.
As this case develops, it could significantly impact the future management of intellectual property rights within the cryptocurrency industry.
