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Squirrels and lawsuits. Two things you never thought would cross paths in crypto. But here we are. Binance, the global heavyweight in crypto exchanges, just got slapped with a cease-and-desist letter from Mark Longo, better known as “Squirrel_Dad” on X (formerly Twitter). Why? Because Binance listed the PNUT meme coin without Longo’s blessing, and he’s not playing around when it comes to defending Peanut the Squirrel’s legacy.
A Nutshell of a Legal Showdown
Mark Longo, the former caretaker of Peanut the Squirrel, claims Binance went rogue by listing and promoting the PNUT meme coin without his authorization. Apparently, this wasn’t just a meme gone wild; the exchange allegedly used copyrighted content, including a photo of Peanut rocking a cowboy hat (iconic), and even stomped on trademarks like “PEANUT THE SQUIRREL” and “PNUT.”
Read Also: PNUT – The Meme Coin That Got Political
“This is just the beginning,” Longo declared on X, rallying his followers and firing shots at Binance. He’s giving the exchange until December 31, 2024, to cut it out or face the legal wrath.
The IP Battle Goes Bananas (or should we say nuts?)
According to Longo’s legal squad, Binance’s antics are a direct violation of U.S. copyright and trademark laws. They argue that consumers might think PNUT, the meme coin has Longo’s stamp of approval, given his history of using the “PNUT” marks for educational and fundraising initiatives tied to Peanut’s fame.
Read Also: Top Meme Coins to Watch Before End of 2025
Here’s the real kicker: Longo isn’t just making noise. His lawyers are armed with the Copyright Act, which could bring hefty damages, injunctive relief, and all the attorney fees Binance probably doesn’t want to pay.
Meanwhile, in Meme Coin Land…
The PNUT coin has had a wild ride, hitting a $1 billion market cap just days after its Binance listing. But the party didn’t last long. The token is now trading at $1.08, down a rough 41% in the last month.
Not to be outdone, Longo launched his own “Justice for Peanut and Fred” (JFP) token. He branded it as the real PNUT coin. Unfortunately, JFP has taken a nosedive, losing over 95% of its value. Critics are calling Longo out for allegedly cashing in on Peanut’s legacy, turning the whole saga into a messy mix of profits and lawsuits.
Peanut’s Legacy: From Internet Fame to Heartbreak
Peanut wasn’t just a meme; he was a star in Longo’s animal sanctuary, winning hearts online. That legacy took a tragic turn in 2024 when New York officials seized Peanut and a raccoon named Fred due to wildlife regulations. Both animals were euthanized, sparking outrage and fueling the rise of Peanut-themed meme coins, including PNUT.
Déjà Vu for Crypto and Copyrights
If this sounds familiar, it’s because it is. Just last month, the creator of the viral “Just a Chill Guy” meme fired up copyright protections over unauthorized crypto projects and merch. With the rise of meme coins, IP battles in the crypto world are becoming as common as the tokens themselves.
The Big Picture
This saga isn’t just about a meme coin or a squirrel with a cowboy hat. It’s a reminder that the lines between the funky meme coin world, intellectual property, and profits are getting blurrier in the wild west of Web3.
Read Also: CHILLGUY is in Rights Violation Scandal
And if you thought 2024 was wild, buckle up for 2025. It’s shaping up to be the year where crypto keeps pushing the boundaries of copyright law, meme culture, and maybe even your sanity.
