TikTok Meme Coin CHILLGUY Soars 101% Despite Creator’s Legal Threats

BE[IN]CRYPTO11-21 19:54

Phillip Banks announced plans to issue takedown notices for unauthorized commercial use of his viral meme. The coin’s market cap dropped 67% following legal threats but rebounded 101% as interest ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTikTok Meme Coin CHILLGUY Soars 101% Despite Creator’s Legal Threats\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-21 19:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://beincrypto.com/chillguy-soars-despite-creators-legal-threats/><strong>BE[IN]CRYPTO</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Phillip Banks announced plans to issue takedown notices for unauthorized commercial use of his viral meme.\nThe coin’s market cap dropped 67% following legal threats but rebounded 101% as interest ...</p>\n\n<a href=\"https://beincrypto.com/chillguy-soars-despite-creators-legal-threats/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4534","symbol_name":"瑞士信贷持仓","start_time":0,"source_url":"https://beincrypto.com/chillguy-soars-despite-creators-legal-threats/","article_id":"2485296467","we_media_id":null,"thumbnails":["https://beincrypto.com/wp-content/uploads/2023/01/BIC_data_privacy_TikTok-850x478.jpg.optimal.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485296467","pubTimestamp":1732190091,"sourceInfo":{"source_id":"beincrypto_highlight","name":"BE[IN]CRYPTO"},"weMediaInfo":null,"summary":"Phillip Banks announced plans to issue takedown notices for unauthorized commercial use of his viral meme.The coin’s market cap dropped 67% following legal threats but rebounded 101% as interest reignited.Chill Guy showcases TikTok’s growing influence in crypto adoption, despite challenges in meme IP monetization.Crypto markets went into disarray after Phillip Banks, the creator of the viral “Chill Guy” meme, announced plans to issue legal takedown notices for unauthorized for-profit uses of his copyrighted character.This move sent ripples through the community and triggered a sharp decline in the market value of the Chill Guy  meme coin before a quick recovery.Chill Guy Creator’s Legal Threats Shake Up Viral TikTok Meme Coin. The Chill Guy meme gained traction on TikTok, where its relatable depiction of a laid-back character resonated with millions. The parody meme coin quickly became a sensation on Crypto Twitter and TikTok, with influencers, presidents, sports brands like UFC, LA Cl","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4534":"瑞士信贷持仓","BK4077":"互动媒体与服务","BK4579":"人工智能","BK4516":"特朗普概念","TWTR":"Twitter","BK4508":"社交媒体"},"translate_title":"尽管创作者面临法律威胁，TikTok模因币CHILLGUY仍飙升101%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TWTR":0.61},"content_text":"Phillip Banks announced plans to issue takedown notices for unauthorized commercial use of his viral meme.\nThe coin’s market cap dropped 67% following legal threats but rebounded 101% as interest reignited.\nChill Guy showcases TikTok’s growing influence in crypto adoption, despite challenges in meme IP monetization.\n\nCrypto markets went into disarray after Phillip Banks, the creator of the viral “Chill Guy” meme, announced plans to issue legal takedown notices for unauthorized for-profit uses of his copyrighted character.\nThis move sent ripples through the community and triggered a sharp decline in the market value of the Chill Guy (CHILLGUY) meme coin before a quick recovery.\nChill Guy Creator’s Legal Threats Shake Up Viral TikTok Meme Coin\nIn a post on X (Twitter), Banks shared his intentions to pursue copyright infringement legal actions for the unauthorized use of his artwork to make a profit.\n\n“Just putting it out there, chill guy has been copyrighted. Like, legally. I will be issuing takedowns on for-profit-related things over the next few days. Not like brand accounts using him as a trend, that is kind of something I do not really care about (I just ask for credit. or Xboxes.). Mainly unauthorized merchandise and shitcoins,” Banks expressed.\n\nThe Chill Guy meme gained traction on TikTok, where its relatable depiction of a laid-back character resonated with millions. The parody meme coin quickly became a sensation on Crypto Twitter and TikTok, with influencers, presidents, sports brands like UFC, LA Clippers, Paris Saint-Germain (PSG), and everyday users alike using it on social media. The coin’s rapid growth is seen as a sign of the increasing influence of social media platforms like TikTok in shaping crypto trends.\nAt its peak, the Solana-based coin had over 100,000 holders, breaking records for one of the fastest-growing meme coins by user adoption. However, as is characteristic of meme coins, the hype proved fleeting. Banks’ legal threats and the natural volatility of the meme coin market triggered a nearly 67% drop in market cap, plunging it to around $187 million after a peak of $579 million on Wednesday.\nCHILLGUY Market Cap. Source: GeckoTerminal\nBanks’ lawsuit declaration displays the growing tension within the meme coin sector. While memes like Chill Guy can spark viral trends and generate immense economic activity, their creators often find themselves sidelined, with little to no financial benefit from the frenzy.\nBanks clarified that his legal actions would not target non-commercial uses of Chill Guy. For instance, he showed leniency towards brands using the meme, such as when the gaming brand Halo used the artwork in a tweet saying:\n\n“When Master Chief trades you his plasma pistol for your rocket launcher but you’re just a chill marine,” Halo wrote.\n\nBanks humorously responded by asking Halo for an Xbox in return. He said, “Hello, Halo. Since you used my art, can I have an Xbox? Thanks.”\nCrypto Community Reacts to Banks’ Demands\nBanks’ legal stance was met with humor and advice from the crypto community. Notable figures on Crypto Twitter suggested he monetize the situation rather than litigate.\n\n“Brother, just ask for a 2% token supply as is tradition and be happy,” user Thelema quipped.\n\nMeanwhile, some crypto executives like Solana Legend, the co-founder and managing partner at Frictionless Capital and MonkeDAO, noted the cultural significance of the Chill Guy meme. The prominent figure in the Solana ecosystem noted that the platform offers a unique way for people to discover crypto through relatable memes.\n\n“Chill guy is becoming the Bored Ape Yacht Club / OpenSea moment for normies to be onboarded onto crypto. 5 minutes on TikTok and you can see people discovering memes,” the analyst wrote.\n\nThe viral success of CHILLGUY highlights TikTok’s growing role in driving crypto adoption among non-crypto natives (normies). Nevertheless, the latest debacle reflects the volatile nature of meme coins, where hype often outweighs fundamentals. Early investors in CHILLGUY rode a wave of speculation fueled by TikTok, only to see gains evaporate when the momentum shifted.\nWhile Banks’ legal threats have shaken the meme coin’s momentum, they also highlight the challenges of monetizing intellectual property in the digital age. His attempt to protect his creation may set a precedent for other meme creators grappling with the commercialization of their work.\nPhillip Banks did not immediately respond to BeInCrypto’s request for comment.\n\n\n\n\nBest crypto platforms in Europe | November 2024\n\n\n\nYouHodler\nExplore\n                      \n\n\n\n\n\nBitpanda\nExplore\n                      \n\n\n\n\n\nCoinbase\nExplore\n                      \n\n\n\n\n\nBYDFi\nExplore\n                      \n\n\n\n\n\nMargex\nExplore\n                      \n\n\n\n\n\n\n\n\nBest crypto platforms in Europe | November 2024\n\n\nYouHodler\n\n\n\n\n\n\n\n\nBitpanda\n\n\n\n\n\n\n\n\nCoinbase\n\n\n\n\n\n\n\n\nBYDFi\n\n\n\n\n\n\n\n\nMargex","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485296467"}