FaZe Clan CEO quits amid MLG crypto scandal: ‘Sucks my entire life gets ruined’
Key Takeaways
Allegations surrounding a failed memecoin drive FaZe CEO Banks to depart the highlight indefinitely. As silence from FaZe continues, hypothesis over accountability deepens.
In a dramatic flip of occasions, FaZe Clan CEO Richard “Banks” Bengtson has announced his departure from the group.
This adopted intensifying allegations a couple of failed cryptocurrency enterprise that additionally includes influencer Adin Ross.
Taking to X (previously Twitter), Banks strongly denied any wrongdoing, calling the accusations “unfair” and attributing the backlash to the exploitability of the FaZe model.
Thus, amid the rising toll on his private model and likewise those that are related to him, he revealed he can be stepping away not simply from FaZe however from the web completely.
Expressing his dissatisfaction, he added,
“Sucks my complete life will get ruined over one thing I didn’t even do. The actual ones know. I want I might say I’ll be again, however I actually don’t know if I’ll.”
As of now, FaZe Clan has remained silent on Banks’ resignation and the swirling allegations.
How it began
The controversy started in early 2025, when Banks and different FaZe members publicly endorsed a cryptocurrency known as MLG memecoin.
Excessive-profile influencers fueled the coin’s dramatic surge in worth via intense hype and promotion.
Nevertheless, the momentum didn’t final as MLG shortly crashed, and followers accused the insiders of orchestrating a “rug pull.”
Many pointed fingers at Banks, claiming he misled his followers into investing.
The scenario worsened on twenty eighth July when a leaked group chat revealed Banks blaming Adin Ross for the token’s collapse.
“Adin Ross f***ed this up,” Banks wrote, suggesting Ross’s neighborhood dumped the coin after Banks purchased in, successfully utilizing him as “exit liquidity.”
What’s extra?
Ross confirmed the authenticity of the message however denied any wrongdoing, calling the scenario “unhappy asf” and refusing to simply accept accountability.
The general public back-and-forth between the 2 influencers additional intensified scrutiny and backlash from the net neighborhood, resulting in Bengtson’s resolution to step away from each FaZe Clan and the web highlight.
With Banks stepping away indefinitely, FaZe Clan now faces an unsure future with out its longtime figurehead.
As of now, the group has but to remark, leaving followers speculating about what lies forward.
In the meantime, because the web offers with the aftermath of 1 rip-off, extra refined scams are already popping up, with deepfake scams on the rise within the Ripple neighborhood.
