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.
The animal in question, stylized as “P’Nut,” was a male eastern grey squirrel rescued by Longo in 2017. It became an internet sensation through a popular Instagram account, “P.NUT Sanctuary,” which chronicled its antics.
However, the creature’s story turned tragic 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 his letter to Binance, shared in a December 16 post on X, Longo accused Binance of using PNUT branding for cryptocurrency-related services without his express permission.
The animal rights advocate said the crypto exchange had unlawfully exploited the “Peanut the Squirrel” trademark, PNUT logos, and associated imagery, which he has owned since he first rescued the animal. Longo is demanding that Binance stop this infringement, confirm compliance by December 17, and agree to commit no further violations in the future.
He claimed that such activities led the exchange’s 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.
