Catenaa, Friday, December 20, 2024 – Mark Longo, the owner of viral internet sensation Peanut the Squirrel, has filed a lawsuit against cryptocurrency exchange Binance, accusing the company of intellectual property infringement.
Longo claims Binance used Peanut’s images and narratives without authorization.
“My legal team initiated action against Binance for the unauthorized use of my intellectual property, including images and stories featuring my beloved animals,” Longo wrote on X, where he posts as @Squirrel_Dad. He warned of additional legal actions, stating his commitment to protecting his creative work.
The lawsuit follows the launch of Longo’s “Justice for Peanut” (JFP) token, which he described as the “only real PNUT coin.”
The token initially surged to a $116 million market cap before plummeting more than 95% to $3 million. This collapse, along with Longo’s involvement in the meme coin ecosystem, has drawn mixed reactions online.
Critics accuse him of exploiting controversies for financial gain.
The dispute stems from Peanut’s rise to fame after the US presidential election, when a clash between Longo and New York’s Department of Environmental Conservation.
The incident sparked public outrage and inspired a wave of Peanut-themed meme coins, with PNUT emerging as the most prominent.
Binance listed PNUT on Nov. 11, propelling its market cap to $1 billion within 11 days—a milestone that took Dogecoin nearly four years to achieve.
The lawsuit highlights a growing trend of viral creators seeking to protect their intellectual property amid the crypto market’s exploitation of internet culture for profit.
