A trademark dispute has erupted between Binance
$15.1B
The conflict lies in Longo’s claim that Binance used his “Peanut the Squirrel” branding, including the mascot, without authorization.
He argues that it creates public confusion and gives the false impression that his brand endorses or is affiliated with Binance’s cryptocurrency. Since 2017, Longo has used the PNUT name for initiatives related to education and animal welfare.
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Longo’s legal complaint emphasizes that these actions violate the United States Copyright Act, stating that Binance’s conduct constitutes unlawful reproduction and use of copyrighted material.
Longo has filed a formal cease-and-desist letter, charging Binance for misusing his intellectual property (IP) with their PNUT memecoin.
The letter demands that Binance refrains from utilizing the PNUT mascot by December 31 and provides written confirmation of compliance.
Should the crypto exchange fail to meet these demands, Longo has signaled that he may pursue further legal action. Binance could face penalties—up to $150,000 for each violation—along with legal fees and damages.
Legal experts have noted the implications of this case, given the growth of memecoins and their reliance on branding. Binance, however, has yet to issue a public response to the allegations.
Before this trademark controversy, Longo launched a $53 million token tribute to his former pets and accused the crypto community of taking advantage of the tragedy. How did the community react? Read the full story.
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