- Mark Longo, owner of the late Peanut and Fred, launches JUSTICE token on Solana after criticizing others for profiting from his pets’ deaths
- The new token reaches $53.8 million market cap with over 14,000 holders
- PNUT community members highlight Longo’s immediate sale of approximately $50,000 in donations
- The story gained political attention with Trump and Elon Musk commenting on the incident
- The case adds to growing trend of meme coins facing potential legal challenges
Peanut Owner Launches Token After Criticizing Crypto Profiteers
Mark Longo, the owner of the deceased viral pets Peanut and Fred, has launched a new Solana-based cryptocurrency token despite previously condemning others for monetizing his tragedy.
The token, named Justice for Pnut and Fred (JUSTICE), was created through the DeFi platform Pump.fun and has accumulated a market cap of $53.8 million with more than 14,000 holders, according to Solscan data.
In a video statement on Twitter, Longo expressed his intent to challenge governmental overreach, stating “The government’s not gonna get away with this. Justice will be served.”
Controversy Surrounds Token Launch
The launch has sparked criticism from the PNUT token community, who pointed out that Longo had previously received and quickly sold approximately $50,000 in donations.
Longo criticized the crypto community’s response to his pets’ deaths, stating “The crypto world has taken my tragedy and has profited every which way possible.”
He declared JUSTICE would be “the only coin I will be affiliated with forever.”
Political Impact and Media Attention
The story gained significant political traction when Vice President-elect JD Vance revealed that Trump was “fired up” about the animals’ euthanization.
Elon Musk commented on the situation, describing it as “messed up,” which led to increased attention from crypto traders.
Background of the Incident
The events began when New York State environmental officers seized Peanut (styled as P’Nut) and Fred from Longo’s Pine City animal sanctuary on October 30.
Both animals were euthanized on November 1 after authorities claimed P’Nut bit someone during the seizure.
Broader Impact on meme coin Market
This incident follows a pattern of meme coins facing legal scrutiny, as exemplified by Philip Banks, creator of the “Chill Guy” meme, who recently announced legal action against unauthorized use of his artwork in cryptocurrency projects.
The CHILLGUY token saw its market cap increase from $13 million to over $517 million between November 19-22, according to CoinGecko data.
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