Peanut the Squirrel Owner Sues Binance Over IP Dispute, Claims Misuse

Peanut the Squirrel owner Mark Longo has sued Binance for intellectual property infringement.

Longo claims Binance used images and stories about Peanut without permission.

“My lawyer has filed against Binance for using my intellectual property without permission,” Longo said in his X account, Squirrel_Dad. He also threatened more lawsuits if he sees more of his work being used without permission.

This comes as the Peanut meme coins controversy continues to rage and Longo is still very active in the crypto space.

Peanut’s Viral Story and Rise of Meme Coins

Peanut the Squirrel went viral during the U.S. presidential election when New York’s Department of Environmental Conservation (NYS DEC) took him from Longo. Peanut died in custody and many prominent figures like Elon Musk came out in support of him.

The controversy spawned many Peanut meme coins, but PNUT was the most popular. It reached a $1 billion market cap in just 11 days after listing on Binance on November 11. Dogecoin (DOGE) took 1,487 days to reach that mark.

But Longo’s “Justice for Peanut” (JFP) token has had mixed results. It peaked at $116 million in market cap earlier this month but has since dropped over 95% to $3 million. Critics say Longo is profiteering off the controversy.

IP Disputes Intensify in the Crypto World

Longo’s lawsuit is part of a growing trend of legal issues in the crypto and meme space. Other cases include artist Phillip Banks, creator of the popular “Just a Chill Guy” meme. Banks recently announced he’s enforcing his copyright to protect his character as he sees unauthorized merchandise and meme coins.

For now, Longo’s legal battle with Binance reflects a broader trend of creators asserting ownership in the ever-evolving meme coin landscape.

Key Takeaways:

• Mark Longo accuses Binance of using Peanut’s image without consent.

• PNUT meme coin hit a $1 billion market cap within 11 days of launch.

• “Justice for Peanut” token plunged 95% after its initial surge.

• Viral culture and IP conflicts continue to rise in the crypto space.