A trademark dispute has erupted between Binance
$17.38B
and Mark Longo, the proprietor of Peanut the Squirrel.
The battle lies in Longo’s declare that Binance used his “Peanut the Squirrel” branding, together with the mascot, with out authorization.
He argues that it creates public confusion and provides the misunderstanding that his model endorses or is affiliated with Peanut the Squirrel (PNUT) cryptocurrency. Since 2017, Longo has used the PNUT title for initiatives associated to training and animal welfare.
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Longo’s authorized criticism emphasizes that these actions violate the US Copyright Act, stating that Binance’s conduct constitutes illegal replica and use of copyrighted materials.
Longo has filed a proper cease-and-desist letter, charging Binance for misusing his mental property (IP) with their PNUT memecoin.
The letter calls for that Binance refrains from using the PNUT mascot by December 31 and supplies written affirmation of compliance.
Ought to the crypto trade fail to satisfy these calls for, Longo has signaled that he could pursue additional authorized motion. Binance might face penalties—as much as $150,000 for every violation—together with authorized charges and damages.
Authorized specialists have famous the implications of this case, given the expansion of memecoins and their reliance on branding. Binance, nevertheless, has but to difficulty a public response to the allegations.
Earlier than this trademark controversy, Longo launched a $53 million token tribute to his former pets and accused the crypto neighborhood of making the most of the tragedy. How did the neighborhood react? Learn the total story.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Battle II period.With near a decade of expertise within the FinTech business, Aaron understands the entire greatest points and struggles that crypto lovers face. He’s a passionate analyst who is anxious with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and business newcomers.Aaron is the go-to individual for the whole lot and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to rework the house as we all know it, and make it extra approachable to finish newcomers.Aaron has been quoted by a number of established shops, and is a printed writer himself. Even throughout his free time, he enjoys researching the market developments, and in search of the following supernova.
