Mark Longo, Squirrel Dad, Takes Legal Action Against Binance

Background of the Case

Mark Longo, popularly known as Squirrel Dad, has taken legal action against Binance for what he describes as unauthorized use of his intellectual property, including images and trademarks tied to Peanut the Squirrel.

Peanut the Squirrel, also stylized as “P’Nut,” was a male eastern grey squirrel rescued by Longo in 2017. The creature became an internet sensation through a popular Instagram account, “P.NUT Sanctuary,” which chronicled its antics.

However, the squirrel’s story took a tragic turn when, on October 30, 2024, the New York State Department of Environmental Conservation seized it from Longo’s home and euthanized it after testing for rabies.

Allegations Against Binance

In a letter to Binance, shared on December 16, 2024, Longo accused the company of using PNUT branding for cryptocurrency-related services without his express permission.

The animal rights advocate claimed that Binance had unlawfully exploited the “Peanut the Squirrel” trademark, PNUT logos, and associated imagery, which he has owned since he first rescued the animal.

Longo demands that Binance stop this infringement, confirm compliance by December 17, 2024, and agree to commit no further violations in the future.

He argued that such activities led customers to mistakenly associate PNUT-branded meme coins sold on the platform with his conservation initiatives.

If Binance fails to comply, Longo reserves the right to seek legal remedies, including claims for damages under the U.S. Copyright Act, which provides penalties of up to $150,000 for wilful infringement. The exchange had not yet responded to the cease-and-desist at the time of writing.

Peanut-Themed Meme Tokens Suffer Different Fates

Longo previously launched the Justice for Pnut and Fred (JUSTICE) token on Pump.fun after criticizing the crypto community for profiting from his trauma by creating the Peanut the Squirrel (PNUT) coin soon after the popular rodent’s death.

While PNUT’s overall worth skyrocketed to more than $1 billion when Binance listed it alongside several other meme coins, JUSTICE ended up shedding more than 99% of its $53.8 million market cap days after its introduction amid claims of significant selling pressure.

Currently, the coin is up 34%, with a valuation of $373,026 per CoinGecko. On the other hand, PNUT recorded a 4.1% dip in the last 24 hours, but its market cap is still above $1 billion.

Another coin launched by Longo soon after the JUSTICE debacle, dubbed Justice for Peanut (JFP), also suffered a similar fate to its predecessor, losing 67% of its price hours after going live. While its price is nearly 70% below its all-time high of $0.001705, achieved on December 13, 2024, the total value of its circulating supply stands at a much more respectable $2.2 million.

Conclusion

The case highlights the ongoing debate surrounding the use of intellectual property in the crypto space. While some may argue that the creation and trading of meme coins are harmless, others may view it as a form of exploitation.

The outcome of the lawsuit will likely have significant implications for the crypto community and the way it approaches the use of intellectual property. As the case continues to unfold, it remains to be seen whether Binance will comply with Longo’s demands and what consequences, if any, will result from their actions.

FAQs

What is the dispute between Mark Longo and Binance about?

Mark Longo, also known as Squirrel Dad, has taken legal action against Binance, accusing the company of using his intellectual property, including images and trademarks tied to Peanut the Squirrel, without his permission.

Why did Peanut the Squirrel become an internet sensation?

Peanut the Squirrel was an eastern grey squirrel rescued by Mark Longo in 2017. Its story was chronicled on the popular Instagram account “P.NUT Sanctuary,” making it an internet sensation.

What happened to Peanut the Squirrel?

Peanut the Squirrel was seized by the New York State Department of Environmental Conservation in October 2024 and euthanized after testing for rabies.

How did the meme coins react to the dispute?

The values of the Peanut-themed meme coins, including PNUT and JUSTICE, varied in response to the dispute. PNUT’s worth skyrocketed to over $1 billion, while JUSTICE shed over 99% of its value within days of its introduction.