The Chill Guy meme crypto controversy

The Chill Guy meme crypto controversy involves an image of an anthropomorphized dog wearing casual clothing and an unbothered smirk.

The Chill Guy meme is a beloved character created by Twitter artist Phillip Banks. It features a brown dog-man wearing casual clothing and sporting an unbothered smirk. The meme quickly gained popularity among users, who began inserting Chill Guy into various scenarios to express their laid-back nature and enjoyment of their hobbies.

As the meme continued to spread, an anonymous crypto peddler created a new coin based on Chill Guy on Nov. 15, 2024, naming it CHILLGUY and using Banks’ artwork without obtaining permission. The coin experienced a rapid surge in popularity, reaching a peak market cap of $500 million on Nov. 20.

This development caught the attention of several brands, who began using the Chill Guy meme in their social media posts. Notably, El Salvadorian President Nayib Bukele also posted an image of Chill Guy in a grassy field without any commentary.

However, Banks expressed his disapproval of the crypto ventures involving his work in an Instagram reel message posted on Nov. 21. He stated that he never endorsed or condoned any crypto-related projects and would never grant permission for his art to be used in such endeavors, adding that he had no interest in anything crypto-related.

In a subsequent tweet, Banks announced that he had obtained a copyright for Chill Guy and promised to issue takedowns on for-profit related things over the next few days. He clarified that he didn’t mind the brand accounts using him for jokes but would target “unauthorized merchandise and sh*tcoins.”

As Banks’ threats caused the value of the CHILLGUY coin to tank by 50 percent, some crypto bros began begging him to reconsider, suggesting that he could make money himself with the coin. Others went as far as collecting cryptocurrency donations for the artist, according to their tweets.

Meanwhile, some individuals reacted hostilely to Banks' actions and attempted to dox him over his involvement with crypto. After announcing the copyright, Banks revealed that someone had posted his personal information over it, prompting him to restrict his account. However, he returned to the public on Nov. 22 to express gratitude to those supporting him.