Mark Longo Owner of Squirrel Peanut Warns Binance About PNUT Memecoin Copyright

[TomPluz]

The story of Peanut the squirrel has once again stirred up the online community. On the morning of December 16, 2024, Mark Longo—the owner of the famous Peanut (controversially euthanized by U.S. authorities in October)—submitted a legal warning to Binance. The reason stems from Binance listing the memecoin PNUT, which allegedly violated intellectual property rights by using Peanut’s image and brand without permission.

According to the warning, Mark Longo pointed out that Binance had unilaterally used the “Peanut the Squirrel” brand, “PNUT,” and an image of the squirrel wearing a hat taken from Peanut’s Instagram account. He demanded Binance cease all violations and contact him by December 31 to negotiate a resolution. Longo stated that he had trademarked Peanut since 2017 and believed that U.S. Copyright Law would protect his legitimate rights.

Source of this news is azc.news. 


Now priced at $1.08 and with a marketcap of $1.07B, PNUT has proven to be one of the most successful memecoins launched ever using the strategy of a good story narrative that attracted support from people in the world of cryptocurrency. The success has inspired many developers to explore more animal-based memecoin projects with a story that can melt the heart and can open the pockets of many. Now, the problem with PNUT is that there is actually no standing collaboration with Mark Longo the owner of the real Peanut the squirrel who got the copyrights on this matter.

Where do you stand on this looming legal battle?

[bitterguy28]

Where do you stand on this looming legal battle?

i am with mark longo here it is crazy that this memecoin has been so successful and has for sure made its developers and investors profit but not the actual owner of the squirrel that is his content they are stealing and this is not the first time nor will it be the last time that we will see memecoins steal memes or characters from their rightful owners just because it is a meme doesn't mean anyone can take it use it and most especially profit off of it lots of people think this way because we all post the meme and participate in it by making jokes with it but once you are taking profit from the meme you never made in the first place that is a completely different story and anyone who steals another person's work must be punished

i am sure binance will cooperate it is not like they are the one who created this memecoin, right? they are just a platform which the memecoin was listed on

[Zed0X]

[edit]

The image looks to be public and could be used by anyone on social media. It's a squirrel but not the actual squirrel named Peanut. For the name, I don't know much about that. He'll probably win because it's like the Alvin the Chipmunk.

~
i am sure binance will cooperate it is not like they are the one who created this memecoin, right? they are just a platform which the memecoin was listed on

I think the problem here is how they advertised the listing, not the token listing.

[yhiaali3]

I also stand with Mark Longo, Binance or others have no right to use a trademark owned by others without the consent of its official owner, I believe Binance should pay compensation.

The good thing is that Longo registered Peanut as a trademark since 2017 as he stated, so it is certain that the US Copyright Law will protect his legitimate rights and rule that Binance will be compensated or fined.
I am surprised that Binance would do this illegal thing that harms its reputation even though it has hundreds of legal advisors.

[robelneo]

I'd like to call this as abuse; these developers for the sake of money, will look for animal icon to the point that they will disregard the copyright, exactly what happened here, Mark should ask for compensation or charge this people for copyright infringement.
The community has been houded by copyright abuse, it used to be those popular personalities now they targeted these beloved popular animal icons to create their memes.
We'll we see Kermit the frog meme in the future?

[hugeblack]

The image looks to be public and could be used by anyone on social media. It's a squirrel but not the actual squirrel named Peanut. For the name, I don't know much about that. He'll probably win because it's like the Alvin the Chipmunk.

Images are usually copyrighted and cannot be used without permission from the owner. However, due to some of the PNUT logos, they have used the image without modification. Generally, such cases may require more time and therefore reaching an understanding may be the best option for everyone.

[Aanuoluwatofunmi]

The story of Peanut the squirrel has once again stirred up the online community. On the morning of December 16, 2024, Mark Longo—the owner of the famous Peanut (controversially euthanized by U.S. authorities in October)—submitted a legal warning to Binance. The reason stems from Binance listing the memecoin PNUT, which allegedly violated intellectual property rights by using Peanut’s image and brand without permission.

According to the warning, Mark Longo pointed out that Binance had unilaterally used the “Peanut the Squirrel” brand, “PNUT,” and an image of the squirrel wearing a hat taken from Peanut’s Instagram account. He demanded Binance cease all violations and contact him by December 31 to negotiate a resolution. Longo stated that he had trademarked Peanut since 2017 and believed that U.S. Copyright Law would protect his legitimate rights.

Source of this news is azc.news. 


Now priced at $1.08 and with a marketcap of $1.07B, PNUT has proven to be one of the most successful memecoins launched ever using the strategy of a good story narrative that attracted support from people in the world of cryptocurrency. The success has inspired many developers to explore more animal-based memecoin projects with a story that can melt the heart and can open the pockets of many. Now, the problem with PNUT is that there is actually no standing collaboration with Mark Longo the owner of the real Peanut the squirrel who got the copyrights on this matter.

Where do you stand on this looming legal battle?

Binance are so smart in what they do, once they have seen that a coin turned to be a most wanted one, then they try on their own to list it on the exchange, while when the coin might have been striving to get known and have good investors, once will have to go through the exchange to make payment and register after fulfilling all terms required for the listing to take place, am also in support of that, because he is the developer.

[TomPluz]

We'll we see Kermit the frog meme in the future?

I don't think anyone would mess with the copyrighted material or images like that as they would surely wake up one day being dragged to the court by the corporation owning the copyrights. Now, this problem can easily solved by collaborating with the copyright owner and working together but the problem is that devs here in the cryptocurrency industry have this mindset that they do anything they want to disregarding the existing laws of the land for the sake of money. I am not sure what can happen with this $PNUT story but am hoping for a win-win resolution in months ahead. Those who are thinking of coming up with new memecoin ideas should also think of other people that can be affected with their actions and decisions.

[robelneo]

Those who are thinking of coming up with new memecoin ideas should also think of other people that can be affected with their actions and decisions.

That should be their goal and concern, but unfortunately these developers think of narratives about memes that they created that are close to the hearts of investors and will make them open their pockets, So many memes that succeeded have stories to tell because these memes have no usecase at all; they rely on narratives and stories that people can relate to.

[PX-Z]

Well, if he really trademarked those stuff then its better for Binance to take it down, or it will be another legal case for them before the end of the year. I guess that's only for the Binance's digital artist and not from their management's decision so it will be taken down easily.

[Faisal2202]

Now priced at $1.08 and with a marketcap of $1.07B, PNUT has proven to be one of the most successful memecoins launched ever using the strategy of a good story narrative that attracted support from people in the world of cryptocurrency. The success has inspired many developers to explore more animal-based memecoin projects with a story that can melt the heart and can open the pockets of many. Now, the problem with PNUT is that there is actually no standing collaboration with Mark Longo the owner of the real Peanut the squirrel who got the copyrights on this matter.

Where do you stand on this looming legal battle?

This is actually very satisfying. haha, maybe because I did not know the whole story before of why this Pnut was famous, or maybe because what happened with the owner of the squirrel was bad and it was his right to claim, and he claimed, but the main question is whether this is bullish news or bearish news for the coin (Pnut).

I don't trade in memecoins, so I won't trade whether it's bullish or bearish, but knowledge is necessary. I think it would be bullish news if Binance is okay with the compensation, then the community will thrive more and more volume and till that time the market would be green again.

[hugeblack]

I don't think anyone would mess with the copyrighted material or images like that as they would surely wake up one day being dragged to the court by the corporation owning the copyrights.

If the rights holder has the financial ability to initiate legal proceedings, this will negatively affect the price of PNUT Memecoin, which may force the parties to negotiate to reach a settlement outside of a court ruling, which may take a few months.