Peanut the Squirrel Owner Issues Cease-and-Desist Letter to Binance Over Alleged Trademark Infringement

Mark Longo, the owner of Peanut the Squirrel, has issued a cease-and-desist letter to cryptocurrency exchange Binance, accusing it of trademark infringement.

Mark Longo, owner of Peanut the Squirrel, has recently accused cryptocurrency exchange Binance of trademark infringement in connection with its PNUT-themed memecoin.

Longo claims that Binance has used his trademark and mascot likeness without permission to promote the Peanut the Squirrel (PNUT) cryptocurrency. In his complaint, Longo alleges that he has been using the PNUT brand for educational and animal welfare initiatives since 2017.

According to Longo’s legal team, the infringement includes unauthorized usage of the terms “PEANUT THE SQUIRREL” and “PNUT,” including a specific copyrighted image of the squirrel mascot.

The letter claims that Binance’s PNUT-themed cryptocurrency and its branding, which mirrors the mascot’s likeness, reportedly create confusion among consumers and imply a connection or endorsement that Longo has not permitted.

The cease-and-desist letter cites violations under the United States Copyright Act and states that the crypto exchange’s actions constitute unlawful reproduction and display of the protected IP.

If Binance fails to comply with Longo’s demands, the Peanut the Squirrel creator could potentially seek injunctive relief, damages and coverage of attorney fees in a US court.

Major exchanges, including Coinbase and Kraken, are reportedly considering listing PNUT, which could escalate the issue further.