The PNUT memecoin that shot to the limelight during the US election cycle has dipped by 5% following a legal warning fired at Binance by the owner of the Peanut internet character.
The legal action was initiated by Mark Longo the intellectual owner of the Peanut the Squirrel image and a note on it was shared on his X page informing the crypto community.
“My legal team initiated action against Binance for the unauthorized use of my intellectual property, including images and stories featuring my beloved animals.
This is the first of multiple cease and desist letters to be issued. I’m committed to protecting my creative work and sending a clear message: unauthorized use of my IP will not be tolerated. $JFP — WE WILL GET JUSTICE” Mark Longo tweeted.
Mark Longo, owner of Peanut the Squirrel, announced his legal team had initiated legal action against crypto exchange Binance accusing the exchange of using his intellectual property without authorization.
Peanut the Squirrel is a stray squirrel that was rescued by Mark Longo and taken home.
However, the owner of the internet sensation PNUT has hit Binance with a cease-and-desist order over the use of his creation without authorization.
PNUT dipped by 5% following the news of the lawsuit on Binance as Binance might decide to pull the memecoin from their platform.
I am Michael Ndu-Okeke, a crypto reporter and analyst covering the intriguing world of Cryptocurrencies and its market. My work focuses on informative news, industry trends and research explaining the crypto industry to a wide range of readers.
Your email address will not be published. Required fields are marked *
Follow us on social media:
© 2025 Nairametrics
Login to your account below
Fill the forms below to register
Please enter your username or email address to reset your password.
© 2025 Nairametrics
