Ethan Riley
In July 2025, FaZe Banks stepped down as CEO of FaZe Clan, a prominent esports and gaming influencer group, amid allegations of a cryptocurrency scam involving streamer Adin Ross. FaZe Banks denied the accusations, blaming Ross for the controversy and insisting he was the victim of a smear campaign. The scandal centred around the now-infamous MLG Coin, a meme cryptocurrency that was heavily backed and promoted by both Banks and Ross. While Banks claimed Ross was responsible for the coin's sudden crash, Ross confirmed the authenticity of the leaked messages but denied any involvement in the scam, expressing hurt at the accusations. The controversy has sparked a public feud between the two and led to Banks's departure from FaZe Clan, with the streamer taking a break from the internet and social media.
| Characteristics | Values |
|---|---|
| Relationship between Adin Ross and FaZe Banks | Adin Ross and FaZe Banks were friends and co-streamers. |
| Living situation | There is no evidence that Adin Ross and FaZe Banks lived together. |
| Recent controversy | FaZe Banks stepped down as CEO of FaZe Clan amid accusations of scamming fans through the $MLG meme token. Banks denies the allegations, blaming Adin Ross for the token's crash. |
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What You'll Learn
FaZe Banks steps down as CEO of FaZe Clan
On Friday, July 28, 2025, FaZe Banks, the esports content creator and longtime face of FaZe Clan, stepped down as CEO of the organisation amid a growing controversy involving alleged crypto scams and streamer Adin Ross.
Banks had been accused of scamming fans through the $MLG meme token. Leaked messages showed Banks blaming Adin Ross for the token's crash, leading to a public feud and his departure from FaZe Clan. Banks has denied the allegations, claiming that the FaZe name was just too easy for people to "farm" for clout.
In a statement posted on his social media, the 33-year-old said:
> "I've never scammed anyone a day in my f life. The entire narrative is unfair, and part of the reason it exists is that my 'FaZe' name is so easily framed and manipulated. The fact that this is affecting the guys at all is whack. So for the time being, I’m gonna be stepping away from not only FaZe, but all this internet s*. It’s destroying my life inside and out. Sucks my entire life gets ruined over something I didn’t even do. The real ones know. I wish I could say I’ll be back, but I really don’t know if I will."
Following Banks' departure, FaZe Adapt, one of the OGs of the group, addressed the situation during a Twitch stream on July 29, 2025. He reflected on his 13-year journey with FaZe Clan and expressed optimism about the future, stating: "I’m confident and optimistic that we’ll sort it out and handle it."
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Adin Ross confirms the authenticity of the screenshot
Adin Ross has confirmed the authenticity of a screenshot that has sparked a controversy involving FaZe Banks, the CEO of FaZe Clan, and allegations of a $200 million crypto scam. The screenshot, which went viral, showed a message from Banks blaming Ross for the sudden crash of the $MLG meme token. In the message, Banks insisted that he never sold a single coin and that he organically grew the token's value from $3 million to $200 million. He placed the blame squarely on Ross, stating, "The only bad actor in this entire thing is Adin. Point blank. Period."
Following the leak, Ross took to his alternate account on X (formerly Twitter) to address the situation. He confirmed that the screenshot was real but denied any involvement in the scam. "The Banks screenshot is real," Ross wrote. "Sh*t is sad af. If you guys think that $MLG being rugged was me, I'm sorry to tell you it wasn't. There's a reason that entire house is silent; the truth will come out eventually." Ross expressed his hurt and disappointment that someone he considered a brother would act behind his back.
The controversy has led to Banks stepping down as CEO of FaZe Clan and taking a break from the internet. Banks has vehemently denied the allegations, claiming that he is the victim of a smear campaign and that his "'FaZe' name is easily manipulated." He has insisted that he never scammed anyone and that he lost money on the MLG Coin himself. The specific details of the crypto-related accusations remain unclear, but the controversy has caused a meltdown in the creator economy, with online speculation and pressure mounting.
The situation has also shed light on the relationship between Ross and Banks. The two had a long-standing friendship, frequently co-streaming and investing together. Earlier in the year, Ross claimed he owned 20% of FaZe Clan, and both had invested in Death Breath, a breath freshener start-up. However, the scandal has created a rift between them, with Ross feeling hurt by the accusations from Banks and Banks pointing the finger at Ross as a "bad actor." The truth of the matter remains to be fully uncovered, but the impact on the individuals and the community involved has been significant.
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FaZe Banks denies the allegations
FaZe Banks, the esports content creator, stepped down as the CEO of FaZe Clan amid accusations of a $200M crypto scam involving streamer Adin Ross. Banks denied the allegations, claiming that he was the target of a smear campaign. In a statement posted on his social media, the 33-year-old wrote, "I've never scammed anyone a day in my f life. The entire narrative is unfair, and part of the reason it exists is that my 'FaZe' name is so easily framed and manipulated." He added that the rumors were "destroying [his] life inside and out" and that he was stepping away from FaZe and the internet.
Banks and Ross had a long-standing friendship, having frequently co-streamed and invested together. Ross claimed he owned 20% of FaZe Clan, and both were public investors in Death Breath, a breath freshener start-up. The controversy traces back to January 2025 when Banks and several FaZe members invested heavily in the MLG meme coin. The token's hype exploded in early 2025, with its market cap shooting up from $3 million to $150 million before crashing.
A leaked group chat message surfaced, showing Banks blaming Ross for the sudden crash of the MLG coin. Ross confirmed the authenticity of the screenshot but denied any involvement in the scam. He wrote, "The Banks screenshot is real. Sh*t is sad af. If you guys think that $MLG being rugged was me, I'm sorry to tell you it wasn't. There's a reason that entire house is silent; the truth will come out eventually."
Banks rejected all wrongdoing, pinning the blame on Ross and insisting he lost money on the MLG coin as well. He attempted to clear his name by posting a screenshot of a deleted tweet, which he claimed proved his losses. Banks' departure from FaZe Clan and his break from the internet have left the future uncertain, with no official statement from FaZe Clan regarding the allegations.
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Adin Ross denies scam involvement
Adin Ross has denied involvement in a $200 million crypto scam alongside FaZe Banks, the CEO of FaZe Clan. Banks stepped down from his role following accusations of scamming fans through the $MLG meme token. Leaked messages showed Banks blaming Ross for the token's crash, which led to a public feud and Banks' departure from FaZe Clan.
In the leaked messages, Banks insisted he never sold a single coin and that he grew the token from $3 million to $200 million. He placed the blame on Ross, stating, "The only bad actor in this entire thing is Adin. Point blank. Period." Ross confirmed the authenticity of the leaked message but denied any involvement in the scam. "The Banks screenshot is real," he said. "Sh*t is sad asf. If you guys think that $MLG being rugged was me, I'm sorry to tell you it wasn't."
Ross expressed hurt that someone he considered a brother would act behind his back. He also pointed to the silence of others in Banks' circle, predicting that the truth would eventually come out. In response to the leak, Banks announced he was planning to address the situation publicly with Ross. However, just an hour later, he revealed he would be stepping down from FaZe Clan and taking a break from the internet.
While denying the scam allegations, Banks claimed that his 'FaZe' name was too easy for people to "farm" for clout. He insisted that he had never scammed anyone and that the narrative against him was unfair. The controversy has taken a toll on Banks and the broader FaZe community, with Banks stepping away from the spotlight and social media, uncertain if he will return.
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FaZe Banks blames Adin Ross for the token's crash
Richard "FaZe Banks" Bengtson, the co-founder and CEO of the popular esports and content creation organization FaZe Clan, has been accused of scamming fans through the $MLG meme token. Leaked messages show Banks blaming fellow streamer Adin Ross for the token's crash, leading to a public feud and Banks' departure from FaZe Clan.
The controversy traces back to January 2025 when Banks and several other FaZe members invested heavily in the MLG meme coin. The token's hype exploded in early 2025, with the market cap shooting up from just $3 million to a whopping $150 million before crashing back down. Banks has denied the allegations, claiming that he is the target of a smear campaign and that he never sold a single coin. He has insisted that he organically grew the token from $3 million to $200 million and that he did not sell any of his coins. In a leaked message, Banks placed the blame squarely on Adin Ross, stating that he was the "only bad actor in this entire thing".
Adin Ross confirmed the authenticity of the leaked message but denied any involvement in the scam. He expressed sadness over the situation and hurt that someone he considered a brother was going behind his back. Ross claimed that he lost money on the MLG Coin and attempted to clear his name by posting a screenshot of a deleted tweet as evidence.
The accusations and fallout have taken a toll on both Banks and the broader FaZe community. Banks has stepped down as CEO of FaZe Clan and announced a break from both the company and social media, expressing uncertainty about his return. He has stated that the allegations are ruining his life and affecting others at FaZe.
The situation has escalated into a "he said, he said" dispute, with Banks blaming Ross for the token crash and Ross refuting the claims. The truth remains unclear, and FaZe Clan has not issued an official statement regarding Banks' departure or the allegations.
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