Peanut the Squirrel’s Owner Takes Legal Action Against PNUT Memecoin
Mark Longo, the owner of the viral sensation Peanut the Squirrel, has taken legal action against Binance over alleged copyright infringement regarding the PNUT memecoin. This cease and desist letter has triggered a notable price drop of 10% for the token, which previously boasted a market cap of $2.27 billion. The legal implications raise concerns regarding intellectual property within the cryptocurrency space. This incident emphasizes the need for clearer regulations and guidelines as the cryptocurrency market continues to expand. As developments unfold, stakeholders must remain alert to the potential risks and opportunities arising from similar legal disputes.
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