Mark Longo, the owner of now deceased Peanut the Squirrel, a popular influencer pet, has taken legal action against global crypto exchange Binance, accusing the platform of using images and stories of his famous squirrel without permission.
Longo claims that Binance’s use of his intellectual property (IP) 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.”
Longo also said, “This is the first of multiple cease and desist letters to be issued. I’m committed to protecting my creative work ” 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. This move has sparked controversy, with some critics accusing Longo of exploiting the situation for personal profit.
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.
Also Read: $PNUT: How Death of a Pet Squirrel Led to Birth of $1.9 Billion Crypto Asset
