Mark Longo, more widely recognized in the digital community as “Squirrel Dad”, has ignited a legal dispute with the cryptocurrency giant Binance. Central to this controversy is the beloved figure of Peanut the Squirrel, a male eastern grey squirrel that Longo rescued back in 2017. Given a personality that charmed thousands, Peanut became an internet celebrity, particularly through the engaging Instagram account, “P.NUT Sanctuary”. However, the narrative took a tragic turn when the New York State Department of Environmental Conservation intervened, seizing Peanut from Longo and euthanizing the animal after a rabies test on October 30, 2024. This event not only brought about sorrow for Longo but also sparked a complicated legal situation involving the unauthorized use of Peanut’s likeness.
In a bold move, Longo has formally accused Binance of exploiting the intellectual property associated with Peanut, including trademarks and likenesses that he asserts should have been kept exclusive to him. His disclosure, made via a post on X on December 16, lays bare his grievances: Binance allegedly used the “PNUT” branding improperly, confusing users by associating cryptocurrency services with Longo’s conservation efforts. The crux of Longo’s argument revolves around his belief that customers may mistakenly align the sanctioned meme coins on the platform with his anti-trafficking initiatives, thereby misrepresenting his cause for profit.
Longo insists that he has legal standing since he has held the trademark for “Peanut the Squirrel” since the initial rescue. His demands to Binance include the immediate cessation of any trademark infringement and an assurance that such activities will be avoided in the future. The stakes are high; should Binance decline to comply, Longo is poised to pursue substantial legal recourse under the U.S. Copyright Act, which allows for penalties reaching $150,000 for willful infringement.
The Aftermath of Peanut’s Death: The Cryptocurrency Repercussions
Following Peanut’s death, Longo launched the JUSTICE token on Pump.fun, driven by indignation toward the crypto community for purportedly profiting off of his grief shortly after Peanut’s demise. This was in direct reference to the launch of the PNUT coin that skyrocketed to an astounding valuation of over $1 billion when it was listed by Binance. In stark contrast, Longo’s JUSTICE token experienced a severe downturn, collapsing more than 99% of its worth shortly after its release, reflecting the volatile nature of cryptocurrency markets and the complexities involved in meme-based currencies.
Despite the fluctuations, Longo’s narrative has not only attracted significant media attention but has also sparked conversations about the ethical implications of using animals in branding and the impact of digital assets on personal tragedies. As of now, while the market cap for the PNUT coin remains robust at over $1 billion, its price has fallen significantly from its peak, creating a stark juxtaposition to Longo’s efforts in seeking recognition and fairness in the face of corporate interests.
Longo’s ongoing battle against Binance has generated discussions on corporate accountability concerning intellectual property usage. It highlights a broader concern regarding how brands, especially in the fast-evolving cryptocurrency space, navigate the delicate balance between innovation and ethical representation. In the age of social media fame where likeness and brand misappropriation can easily occur, this case addresses vital questions about ownership — both of intellectual property and the narratives surrounding beloved figures in the digital landscape. As the story unfolds, it remains to be seen how Binance will respond and what implications this case will hold for future endeavors within the complex world of cryptocurrency and branding rights.
Leave a Reply