“Chill Guy” Artist Threatens Legal Action, CHILLGUY Coin Tumbles

Solana-based CHILLGUY saw its market cap skyrocket by over 400% on Wednesday, reaching a peak of $500 million. However, following Banks’ public denouncement on Twitter, the token plummeted 54% within two hours, falling to $220 million before recovering to $375 million.

“Chill Guy has been copyrighted. Like, legally,” Banks tweeted, adding that he plans to issue takedowns for unauthorized for-profit uses of his art.

Meme Coins and Copyright Infringement

While Banks doesn’t mind celebrities and brands using his meme for non-commercial purposes, he drew the line at crypto projects and unauthorized merchandise.

“I don’t really care about brand accounts using [the meme] as a trend—I just ask for credit or Xboxes,” Banks joked on Twitter. However, he described unauthorized crypto coins like CHILLGUY as a misuse of his work.

The CHILLGUY meme coin rose dramatically this week, from an $11.45 million market cap on Tuesday to $510 million on Wednesday. Multiple spin-off tokens, including CHILWIFHAT, Not a Chill Guy (PHILLIP), and CHILLGIRL, also launched using Banks’ artwork, further fueling the controversy.

Exchanges Continue to List CHILLGUY

Despite Banks’ condemnation, several crypto exchanges have listed CHILLGUY for trading. Crypto.com and Gate.io have already listed the token, while Binance teased the possibility on Twitter.

This isn’t the first time meme coins have sparked copyright disputes. A similar case involved the Solana token Shark Cat (SC), which used the image of the internet-famous kitten Nala without permission. That case ended in an out-of-court settlement.

Community Donations and Doxxing Allegations

The CHILLGUY team has created a donation wallet for Banks, containing $59,000 in Solana and nearly $240,000 worth of tokens, including $177,000 in CHILLGUY.

However, Banks appears uninterested, stating that the meme coin backlash has led to his personal information being leaked online (doxxing). While some traders apologized for the harassment, others dismissed his complaints.

Banks has since made his Twitter account private again, stating he needs time away from the platform due to overwhelming “crypto noise.”

Lessons from the Chill Guy Saga

The CHILLGUY incident highlights ongoing tensions between meme culture, copyright enforcement, and the cryptocurrency space. As meme coins continue to capitalize on viral trends, creators like Banks face challenges in protecting their intellectual property in a rapidly evolving market.

For now, the story of Chill Guy remains a cautionary tale for both creators and crypto projects, underlining the need for clearer boundaries and mutual respect in the digital economy.