Mark Longo, the owner of the meme squirrel Peanut, has filed a lawsuit against cryptocurrency exchange Binance. He alleges the platform used his intellectual property, including the PNUT trademark and an image of the squirrel wearing a cowboy hat, without authorization.
Trademark and Copyright Violations
Longo outlined the details in a four-page document shared on X, demanding Binance cease using his trademarks and images for crypto-related services, including the listing and promotion of the PNUT token.
Longo claims that Binance’s unauthorized use of his work infringes on his rights and misleads consumers into believing that the PNUT cryptocurrency or its services are endorsed by him. He emphasized that all aspects of the imagery, including the squirrel’s name and appearance, are registered trademarks and copyright-protected in the United States.
He has set a deadline of December 31, 2024, for Binance to halt the usage. Should the exchange fail to comply, Longo plans to pursue legal action, seeking damages, court costs, and injunctions.
Legal Threats and IP Protection
If Binance does not meet his demands, Longo intends to escalate the matter to a U.S. federal court. He aims to seek damages, penalties, and attorney fees, citing the U.S. Copyright Act and Trademark Act as the basis for his exclusive rights to the imagery and trademarks.
Longo also expressed concerns that Binance’s continued use of his intellectual property could cause long-term harm to his reputation, potentially misleading consumers about his brand’s association with the exchange.
Community Reaction
The lawsuit follows a series of events involving Longo, who previously announced a token called Justice for Pnut and Fred (JUSTICE) after the tragic loss of his pets, Peanut the squirrel and Fred the raccoon. Longo criticized the crypto community for exploiting his personal tragedy and stated that JUSTICE would be the only token he endorses.
While some supported his efforts, others accused Longo of leveraging his situation for profit. Critics, including user flooksta, claimed Longo earned millions through dubious projects. Another commenter, Marcell, threatened collective legal action, alleging Longo’s involvement in multiple scams.
Despite controversy, the JUSTICE token surged by 24.44% after news of the lawsuit, though analysts suggest this could be temporary. Meanwhile, a newly mentioned token, JPF (Justice for Peanut), launched on December 6, has raised questions about the legitimacy of Longo’s account amid rumors of a possible hack.
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