Peanut the squirrel’s owner accuses Binance of illegally using intellectual property over PNUT listing

Blogger Mark Longo has his own meme token in honor of his pet under the ticker JFP

16.12.2024 - 13:30

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2 min

What’s new? The owner of a squirrel named Peanut, blogger Mark Longo said his legal team has filed a pre-trial complaint against Binance, the largest centralized crypto exchange (CEX), for unauthorized use of intellectual property. In his X-account under the nickname Squirrel_Dad12, he noted that the claim involves “images and stories featuring my beloved animals.”

What else is known? The squirrel Peanut, rescued 7 years ago by Mark Longo and popular on social media, was killed by New York City authorities in early November, citing concerns about the animal having rabies.

The story resonated on social networks, after which several meme tokens were launched in Peanut’s honor, the most popular of which was Peanut the Squirrel (PNUT) on the Solana blockchain, which Longo had nothing to do with the creation of.

At the time of writing, the asset ranks 129th in the cryptocurrency market capitalization rankings with a market cap of $1,073 billion and is trading at $1,07, having lost 8% overnight.

Binance, along with other exchanges, listed PNUT in November, it is the most popular platform for trading the asset. PNUT uses a picture of Peanuts taken by Mark Longo as its mascot.

The blogger himself also launched the meme token JUSTICE, and in December began promoting the pet-related asset Justice for Peanut (JFP).

In his complaint, Longo demands that the exchange stop using his intellectual property.

“I’m committed to protecting my creative work and sending a clear message: unauthorized use of my IP will not be tolerated,” the blogger writes, referring to his JFP coin, “JFP - we will get justice.”

In terms of performance, JFP loses heavily to PNUT. It ranks 3147th in the cryptocurrency rankings with a capitalization of $2,2 million and is trading at $0,002193, having added 0,4% overnight.

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