Mark Longo, the caretaker of the late internet-famous Peanut the Squirrel, has sent a cease-and-desist order to Binance over its listing of the PNUT meme coin. He's accusing the crypto exchange of infringing his intellectual property because it listed and promoted the meme coin.
The listening and marketing of PNUT were done without authorization, according to Longo.
“This is the first of multiple cease-and-desist letters to be issued. I’m committed to protecting my creative work and sending a clear message: Unauthorized use of my IP will not be tolerated,” “Squirrel_Dad” Longo wrote on X, formerly known as Twitter.
The cease-and-desist letter notes that Binance violated Longo’s exclusive rights under U.S. copyright and trademark laws.
The letter specifically highlights the unauthorized use of a copyrighted photograph of Peanut wearing a cowboy hat and trademarks including "PEANUT THE SQUIRREL," "P’NUT," and "PNUT."
Binance’s actions have created a likelihood of consumer confusion, implying an association between Longo’s brand and the PNUT crypto, according to the letter.
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It's every crypto degen's wet dream. A lucky trader threw just $16.20 at a Solana meme coin only two weeks ago, letting it sit in their wallet for 10 days, watching the value of the token soar. The trader then began to slowly take profits over the next three days. When it was all said and done, they pocketed a whopping $3 million. A Solana wallet starting with “6r3W” bought $16 worth of the Peanut the Squirrel (PNUT) meme coin on October 31 while it was still on token launchpad Pump.fun—a platfo...
“Consumers familiar with our client’s use of the PNUT Marks on educational, entertainment, and fundraising services will be confused into believing that your cryptocurrency is somehow sponsored, endorsed, or related by our client,” it states.
The letter demands that Binance acknowledge the letter and cease all infringing activities by December 31, 2024.
Longo’s legal counsel claims to have the right to pursue legal action for damages, injunctive relief, and attorney fees under the U.S. Copyright Act. The Act protects creators’ rights to reproduce, distribute, and publicly display their works.
'Just a Chill Guy' Artist Threatens Legal Action Over Surging Meme Coin
Phillip Banks, the artist behind the viral "Chill Guy" meme, has taken to Twitter to threaten legal action against meme coins using his art. Solana meme coin CHILLGUY had peaked at a $500 million market cap. But in the two hours that followed Banks’ tweet, the price plummeted 54% to $220 million. It's now up to $375 million. CHILLGUY surged by over 400% on Wednesday; the token was created less than a week ago. “Chill guy has been copyrighted. Like, legally. I'll be issuing takedowns on for-pro...
A similar situation unfolded last month when Philip Banks, the artist behind the viral “Just a Chill Guy” meme, announced plans to enforce copyright protections on his character.
Banks, whose artwork inspired the "CHILLGUY" meme coin, raised concerns at its use in unauthorized merchandise and crypto projects.
Binance did not immediately respond to a request for comment from Decrypt.
The Legacy of Peanut the Squirrel
Peanut, a pet squirrel, gained widespread online recognition years ago as part of Longo’s animal sanctuary.
The story took a tragic turn when New York state officials seized Peanut and a raccoon named Fred in November, citing wildlife regulations.Both animals were euthanized shortly after, triggering public outrage and widespread media coverage.
Peanut Pet Owner Launches New Token, Threatens Lawsuit Against Crypto Community
Less than a month after the story of Peanut the squirrel and Fred the raccoon broke headlines, Mark Longo, the owner of the two pets whose tragic deaths caused a public outcry and spurred a movement, has launched his own token. Longo spoke in a Twitter video about how he came to process the story of Peanut and Fred and has decided to launch a new token on Solana called Justice for Pnut and Fred (JUSTICE) to honor the memory of his pets. "The government's not gonna get away with this," Longo sai...
Peanut-themed meme coins began to rise, with PNUT emerging as the most prominent. Within days of its spot listing on Binance, PNUT achieved a market cap of $1 billion, thrusted by a surge in trading activity.
In response, Longo launched his own token, “Justice for Peanut and Fred” (JFP), calling it the “only real PNUT coin.” However, JFP’s value has plummeted by over 95%, and some in the crypto community have criticized Longo for allegedly using Peanut’s legacy for profit.
PNUT is now trading for $1.08, plummeting by 41% in the last month, according to CoinGecko data.
Edited by Stacy Elliott.
