Nikolas Sargeant
In the fast-paced world of internet memes and cryptocurrency, Mark Longo, owner of the viral internet sensation Peanut the Squirrel, has ignited a legal firestorm by filing a lawsuit against global cryptocurrency exchange Binance. The lawsuit centers on allegations of intellectual property infringement, marking a significant moment in the intersection of digital culture, internet fame, and legal boundaries.
Legal Warfare: Protecting Creative Intellectual Property
Longo's legal action stems from what he claims is the unauthorized use of Peanut's images and narratives by Binance. Taking to social media platform X, Longo declared, "My legal team initiated action against Binance for the unauthorized use of my intellectual property, including images and stories featuring my beloved animals."
The lawsuit is more than a singular dispute; Longo views it as a broader statement about intellectual property rights in the digital age. He warned of potential future legal actions, stating, "This is the first of multiple cease and desist letters to be issued. I'm committed to protecting my creative work and sending a clear message: unauthorized use of my IP will not be tolerated."
Meme Coin Maverick Stands Ground
The legal confrontation unfolds against a complex backdrop of internet culture and cryptocurrency speculation. Longo recently launched the "Justice for Peanut" (JFP) token, positioning it as the "only real PNUT coin". The token's financial trajectory has been volatile, initially surging to a market cap of $116 million before dramatically plummeting to $3 million.
Longo's journey to this point is intrinsically linked to a controversial incident involving Peanut. During the U.S. presidential election, a clash with New York's Department of Environmental Conservation (NYS DEC) resulted in the confiscation of Peanut and a raccoon, with Peanut tragically dying in custody. The incident sparked widespread public outrage and drew support from high-profile figures like Elon Musk.
The Peanut saga inspired numerous meme coins, with PNUT emerging as the most prominent. On November 11, PNUT secured a listing on Binance, catapulting its market status. Remarkably, within just 11 days of launch, PNUT's market cap reached $1 billion—a milestone that took Dogecoin 1,487 days to achieve.
The crypto community's response has been mixed. Some social media users have questioned Longo's motivations, with one critic alleging, "You rugged 5 separate contracts and made millions of dollars already and we have all the proof. Everyone knows your a scamming value extractor."
This legal battle mirrors a growing trend of content creators asserting their intellectual property rights in the digital ecosystem. Similar to Longo, Phillip Banks, creator of the "Just a Chill Guy" meme, recently announced plans to enforce copyright protection on his viral character.
As the lawsuit unfolds, it raises critical questions about digital ownership, meme monetization, and the evolving landscape of intellectual property in the age of viral internet content and cryptocurrency speculation.
