Binance News: Legal Battle Brews Over Peanut the Squirrel Trademark

The post Binance News: Legal Battle Brews Over Peanut the Squirrel Trademark appeared first on Coinpedia Fintech News

Binance, one of the largest cryptocurrency exchanges, is under fire for allegedly using intellectual property without permission. Mark Longo, the owner of “Peanut the Squirrel (PNUT),” recently stated that he had sent a cease-and-desist letter to Binance through his legal team.

Binance Faces Trademark Dispute

In his statement, Mark Longo said that his legal team sent a cease-and-desist letter to Binance. He claimed that Binance used the “PNUT” trademark and the well-known image of Peanut the Squirrel on their platform without permission. These are not just simple designs but part of Longo’s brand, which he believes Binance has violated.

Mark Longo, the owner of Peanut the Squirrel, said in a post that he had sent a cease-and-desist letter to Binance through his law firm, alleging that Binance had used a number of intellectual property rights, including the PNUT trademark and the image of a squirrel wearing a…

— Wu Blockchain (@WuBlockchain) December 16, 2024

Meanwhile, Longo’s statement highlights the importance of intellectual property in today’s digital world. He pointed out that global platforms like Binance need to be careful about respecting copyrights and trademarks. 

For Longo, PNUT’s image and branding represent years of hard work and creativity, which he feels have been unfairly used.

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What Could Happen Next?

As of now, Binance has not issued an official response to these allegations. If Binance fails to respond or address the issue, Longo may escalate the matter further with legal proceedings. 

For now, the focus remains on Binance’s reaction to the cease-and-desist letter and whether they will take steps to resolve the dispute.

However, This isn’t the first time Binance has faced legal challenges. Over the years, the platform has navigated regulatory scrutiny worldwide, but this dispute over a trademarked squirrel adds a peculiar twist to its legal troubles.

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