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In a statement shared on his social media account, Squirrel_Dad, Longo expressed his determination to protect his creative works. He confirmed that his legal team has issued a cease-and-desist letter to Binance.
“My legal team initiated action against Binance for the unauthorized use of my intellectual property, including images and stories featuring my beloved animals.”
Longo further emphasized that this is the first of several actions aimed at safeguarding his intellectual property, stating, “Unauthorized use of my IP will not be tolerated.”
Legal Battle Amidst the Meme Coin Frenzy
The legal dispute with Binance comes at a time of heightened activity in the meme coin market. Longo recently launched the “Justice for Peanut” (JFP) token, positioning it as the “only real PNUT coin.”
Some members of the crypto community have expressed skepticism, accusing Longo of exploiting the situation for financial gain. On social media platforms like X, critics have pointed out that Longo has previously made millions of dollars through various crypto projects, with some alleging that his actions represent a pattern of value extraction from the market.
“You rugged 5 separate contracts and made millions of dollars already, and we have all the proof. Everyone knows you’re a scamming value extractor,” Longo said.
The Rise of Peanut the Squirrel in the Crypto World
Peanut the Squirrel, who gained fame as a social media influencer, became a key figure in the meme coin ecosystem. Longo’s pet was not only a viral sensation but also the catalyst for the creation of numerous cryptocurrency tokens.
The squirrel’s name became widely known during the U.S. presidential election, following a bitter clash between Longo and the New York Department of Environmental Conservation (NYS DEC). In late October, the NYS DEC confiscated Peanut and a raccoon from Longo’s care, citing concerns over animal welfare.
