Binance Faces Legal Challenge Over Alleged PNUT Trademark Violation

Binance, one of the largest cryptocurrency exchanges in the world, is facing allegations of using intellectual property without permission.

Mark Longo, the creator of “Peanut the Squirrel (PNUT),” claims that Binance used his trademark and the popular image of Peanut the Squirrel on their platform without consent. Longo’s legal team has sent a cease-and-desist letter to Binance, demanding that the company stop using the content.

Mark Longo Speaks Out

In his statement, Longo explained that the PNUT trademark and the image of Peanut the Squirrel are not just simple designs, but key elements of his brand. He stressed that these assets represent years of his hard work and creativity, which he believes have been unfairly used by Binance.

Longo also pointed out that global platforms like Binance must be careful to respect copyrights and trademarks, especially in the digital world.

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Binance Response to Longo

As of now, Binance has not provided an official response to the accusations. If Binance does not address the issue, Longo has indicated that he may escalate the matter and pursue legal action.

The Troubles Don’t End for Binance

This trademark dispute is just the latest in a series of legal challenges for Binance. The exchange has dealt with regulatory scrutiny across the globe in recent years. However, this case, centered on a trademarked squirrel, adds a unique twist to its legal struggles.

All eyes are now on Binance and how it responds to the cease-and-desist letter. Will the company take steps to resolve the issue, or will this trademark dispute turn into a more serious legal battle? Let’s wait to see.