Solana (SOL)-based CHILLGUY memecoin falters as illustrator threatens legal action: report

The illustrator behind the viral ‘Chill Man’ meme is warning CHILLGUY holders that he plans to take authorized motion towards the Solana (SOL)-based memecoin over copyright points.

Based on a brand new Decrypt reportChill Man creator Phillip Banks lately took to social media platform X to threaten authorized motion towards unauthorized, profit-driven use of his viral cartoon.

“I am simply going to place it on the market, chill man is copyrighted. like, authorized. I will probably be issuing takedowns on for-profit issues within the coming days.”

Phillip Banks has frozen his X account because the submit. Per one screenshot from X person TheDeFiApe, Banks plans to go after unauthorized merchandise and memecoins.

Regardless of Banks’ protests, Crypto.com remained announced yesterday that the inventory alternate listed CHILLGUY. Gate.io, additionally the tenth largest crypto alternate by buying and selling quantity launched CHILLGUY traded yesterday as a “Pilot Part” undertaking.

“CHILLGUY simply launched on Gate.io’s Pilot Part and has already skyrocketed 1065.01% within the first 24 hours!

From TikTok sensation to explosive memecoin – CHILLGUY showcases the unimaginable potential of Gate.io’s Pilot Part tasks.”

Though the crypto undertaking Chill Man has not but given an official reply, a meme posted to the memecoin’s X account this morning seems to be addressed to banks.

“Save your crypto donations, I will get pleasure from my Xbox.”

CHILLGUY is buying and selling at $0.381 on the time of writing, down 5.5% within the final 24 hours. Chill Man is down 18.6% from its all-time excessive of $0.479, reached yesterday. After Banks’ tweet, CHILLGUY fell about 54%. The extraordinarily unstable memecoin was created lower than seven days in the past.

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