What is the crypto controversy behind the viral 'Chill Guy' meme?

Phillip Banks, known as the creator of the viral 'Chill Guy' meme, has threatened to take legal action against crypto projects using the art. The meme featuring a cartoon dog dressed like a human has been used by at least one cryptocurrency, which currently has a market cap of $400 million. "I've...no interest in anything crypto-related," Banks said on Instagram.