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

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Daily Hodl2024/11/20 16:00

By:by Daniell Marlow

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.

Solana (SOL)-Based CHILLGUY Memecoin Falters As Illustrator Threatens Legal Action: Report image 0

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.”

Solana (SOL)-Based CHILLGUY Memecoin Falters As Illustrator Threatens Legal Action: Report image 1

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.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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