A trademark dispute has erupted between Binance
$19.67B
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 offers 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 schooling and animal welfare.
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Longo’s authorized criticism emphasizes that these actions violate the USA 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 gives written affirmation of compliance.
Ought to the crypto change fail to fulfill these calls for, Longo has signaled that he might pursue additional authorized motion. Binance may face penalties—as much as $150,000 for every violation—together with authorized charges and damages.
Authorized consultants have famous the implications of this case, given the expansion of memecoins and their reliance on branding. Binance, nonetheless, has but to subject 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 group of profiting from the tragedy. How did the group 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.
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