Solana (SOL)-Based CHILLGUY Memecoin Falters As Illustrator Threatens Legal Action: Report

The illustrator behind the viral “Chill Guy” meme is warning CHILLGUY holders that he plans to take legal action against the Solana ( SOL )-based memecoin over copyright issues.

According to a new Decrypt report , Chill Guy creator Phillip Banks recently took to the social media platform X to threaten legal action against unauthorized, for-profit uses of his viral cartoon.

“just putting it out there, chill guy has been copyrighted. like, legally. I’ll be issuing takedowns on for-profit related things over the next few days.”

Phillip Banks has locked his X account since the post. Per a screenshot from X user TheDeFiApe, Banks plans on going after unauthorized merchandise and memecoins.

Source: TheDeFiApe/X

Despite Banks’ protest, Crypto.com announced yesterday that the exchange was listing CHILLGUY. Gate.io, the tenth-largest crypto exchange by trading volume, also launched CHILLGUY trading yesterday as a “Pilot Section” project.

“CHILLGUY just launched on Gate.io’s Pilot Section and already skyrocketed 1065.01% in its first 24H!

From TikTok sensation to explosive memecoin – CHILLGUY showcases the incredible potential of Gate.io’s Pilot Section projects.”

Though the Chill Guy crypto project has yet to issue an official response, a meme posted to the memecoin’s X account this morning appears to be directed at Banks.

“Keep your crypto donations I’ll enjoy my Xbox.”

Source: chillguyx/X

CHILLGUY is trading for $0.381 at time of writing, down 5.5% in the last 24 hours. Chill Guy is down 18.6% from its all-time high of $0.479, reached yesterday. Following Banks’ tweet, CHILLGUY fell about 54%. The extremely volatile memecoin was created less than seven days ago.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X , Facebook and Telegram

Surf The Daily Hodl Mix

Generated Image: DALLE3