Owner of Peanut the Squirrel Threatens Binance with Legal Action

Mark Longo, the owner of Peanut the Squirrel, along with his legal team, has issued a formal demand to Binance to cease using the image and name of his pet, which are registered trademarks.

“This is the first of many such demands. I will defend my creative works and send a clear message: I will not tolerate unauthorized use of my intellectual property. We will seek justice,” Longo declared.

According to him, lawyers have already initiated proceedings against Binance. The case involves images of the squirrel and trademarks such as PEANUT THE SQUIRREL, P’NUT THE SQUIRREL, PNUT, and similar. As per the letter dated December 12, the exchange’s team must respond by the end of the 2024 calendar year.

Longo’s lawyers noted that he has been promoting these trademarks since April 2017 in educational and entertainment materials, environmental protection projects, and fundraising efforts.

They argue that the use of Peanut’s image and name, especially in crypto projects related to fundraising, misleads users.

The letter states that he has already received “complaints and comments” regarding tokens dedicated to the famous squirrel. Buyers of the assets are led to believe that the animal’s owner is associated with these projects or has consented to the use of protected materials.

In December, Longo began promoting his own meme coin, Justice for Peanut (JFP). A month earlier, he launched a similar asset, JUSTICE, accusing the community and competing tokens of profiteering.

We are the only real Pnut Coin ?$JFP ❤️ https://t.co/eei2sO1dhQ

— Justice (@JusticePnutFred) December 16, 2024

Some commentators criticized the squirrel’s owner for exploiting the image and tragic story of the animal.

Exploiting the death of your pet to scam money from your fans? You are a disgrace to human civilization.

— PandaPunk ?️? (@realpandapunks) December 16, 2024

“Exploiting the death of your pet to scam money from your fans? You are a disgrace to human civilization,” wrote one user.

Others suspected Longo of token fraud.

me and 10,000 other people are going to sue your ass for the countless rugs you’ve launched

and your post is a bluff to pump your scam coin, but mine wont be

im coming for your ass @Squirrel_Dad12 and its gonna hurt so hard your going to go back to stripping on onlyfans pic.twitter.com/toQZbs8HQp

— Marcell (@MarcellxMarcell) December 16, 2024

“Me and 10,000 other people are going to sue you for the countless rug pulls you’ve launched. Your post is a bluff to pump your scam coin, but mine won’t be,” stated a commentator.

Peanut became a social media sensation, amassing over 900,000 followers on Instagram. On October 30, the squirrel, along with a pet raccoon named Fred, was confiscated by New York State Department of Environmental Conservation officials, citing laws prohibiting the keeping of wild animals as pets. On November 1, the squirrel and raccoon were euthanized.

The event sparked community outrage and led to the launch of several meme coins dedicated to the squirrel.

At the time of writing, the Peanut the Squirrel Price (PNUT) token, launched on Binance, is trading at $1.11. Its market capitalization stands at $1.11 billion.

Earlier in December, developers of the meme token featuring Hawk Tuah were suspected of an exit scam.