TO trademark dispute has exploded between binance
$18.1 billion
and Mark Longothe owner of Peanut the Squirrel.
The conflict lies in Longo’s claim that Binance used its “Peanut the Squirrel” brand, including the mascot, without authorization.
He maintains that creates public confusion and gives the false impression that your brand endorses or is affiliated with Peanut the Squirrel (PNUT) cryptocurrency. Since 2017, Longo has used the name PNUT for initiatives related to education and animal welfare.
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Longo’s judicial complaint highlights that these actions violate United States copyright lawstating that Binance’s conduct constitutes illegal reproduction and use of copyrighted material.
Longo has submitted a formal cease and desist letteraccusing Binance of misusing its intellectual property (IP) with its PNUT memecoin.
The letter demands that binance refrains from using the PNUT mascot by December 31 and provides written confirmation of compliance.
If the crypto exchange does not meet these demands, Longo has He indicated that he could take new 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 has yet to issue a public response to the allegations.
Prior to this branding controversy, Longo launched a $53 million symbolic 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.
Having completed a master’s degree in Economics, Politics and Cultures of the East Asian region, Aaron has written scientific articles analyzing the differences between Western and collective forms of capitalism in the post-World War II era.
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