Mark Longo, the owner of the Peanut the Squirrel brand, has issued a cease-and-desist letter to Binance, alleging that the cryptocurrency exchange has infringed on his intellectual property rights with its PNUT-themed memecoin. 

Longo accuses Binance of using the “Peanut the Squirrel” trademark and mascot likeness without permission to promote the PNUT cryptocurrency, which has gained significant traction in recent months.‍

Trademark Dispute and Allegations

According to Longo’s legal team, Binance has used the terms “PEANUT THE SQUIRREL” and “PNUT,” along with a copyrighted image of the squirrel mascot, to promote its PNUT token. The cease-and-desist letter claims that the unauthorized use creates confusion among consumers and falsely implies Longo’s endorsement of the memecoin.

The letter cites violations under the United States Copyright Act, claiming that Binance’s actions constitute unlawful reproduction and display of protected intellectual property. It demands that Binance cease all infringing activities by December 31 and provide written confirmation of compliance.

“The use of Peanut the Squirrel’s trademark and mascot likeness undermines the brand’s mission of promoting educational and animal welfare initiatives,” Longo said. He has been using the PNUT brand for these purposes since 2017.‍

Legal Consequences for Binance

If Binance does not comply with Longo’s demands, he may seek legal action, including injunctive relief, damages, and coverage of attorney fees. Under U.S. copyright law, penalties 

Longo’s legal team emphasizes the importance of protecting intellectual property rights, particularly as the cryptocurrency industry continues to grow and innovate. Further developments in this dispute are anticipated as the December 31 compliance deadline approaches.