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Phillip Banks — the creator of the chill guy meme — is threatening legal action against for-profit uses of his creation, including a memecoin.
Banks highlighted that “chill guy has been copyrighted” in an X post that is no longer publicly visible. He continued:
“I’ll be issuing takedowns on for-profit-related things over the next few days. […] Not like brand accounts using him as a trend, that’s kinda something I don’t really care about (I do just ask for credit. or xboxes.). Mainly unauthorized merchandise and shitcoins.”
— Nayib Bukele (@nayibbukele) November 21, 2024
The memecoin
The Just a chill guy (CHILLGUY) memecoin is currently down just 1.7% compared to its price 24 hours ago. Still, market data also indicates that it is almost 50% below its Wednesday high. Dextools data indicates that over 112,000 users currently hold the token in question.
The Crypto Fear & Greed Index — a multifactorial measure of crypto market sentiment — shows a score of 82, indicating that “extreme greed” has gripped the crypto market. During such phases, market participants are often irrational and capital tends to flow even into tokens that would appear to hold little value when examined from a fundamental analysis point of view.
Know Your Meme explains that the “Just a chill guy” meme was first posted by Banks in early October, 2023 on X. The post garnered roughly 17,000 likes over 11 months, and the first subsequent posts had seen a similarly lukewarm reception.
The meme finally started taking off this summer, when one post featuring the chill guy character received roughly 422,700 plays and 75,600 likes. After this post, the meme took a life of its own with third-party creators starting to make their own posts featuring the character.
Earlier today even El Salvador’s president Nayib Bukele — famous for leading the country in its adoption of Bitcoin (BTC) as a legal tender and crushing crime — posted the meme on his X account.
