Banks Steps Down As CEO of FaZe Clan

Source: Andrew Toth / Getty

FaZe Clan, the once reputable esports and influencer company, has lost another CEO.

Banks is stepping down as CEO of FaZe Clan after he was hit with accusations of scamming fans through his cryptocurrency joint venture with Adin Ross.

Monday on his X account, Banks (33) wrote, “I’ve never scammed anyone a day in my fucking life. The entire narrative is unfair and part of the reason it exists is cause my ‘FaZe’ name is so easily farmed and manipulated.”

Banks continued, “The fact this is affecting the guys at all, is whack. So for the time being I’m gunna be stepping away from not only FaZe, but all this internet shit. 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.”

Banks then hopped on Instagram and claimed in his Stories that he’s thankful for being healthy, adding that allegations against him are “simply me being farmed.”

“Anybody with a brain or anyone who’s bothered to look into details of the “scam” garbage knows it’s just simply me being farmed. Simple as.,” he wrote on his IG Story. Banks added, “everything can change on a dime.”

Banks Blamed Adin Ross For The Crypto Coin Crashing

All of this drama centers around the $MLG crypto coin that Banks and other members of FaZe Clan heavily promoted, which saw a spike in value before ultimately crashing, according to Dexerto’s reporting.

A leaked text message shared on July 28 saw Banks blaming Adin Ross for the token flopping. “Adin Ross f***ed this up, this community dumped on him buying. Used him as exit liquidity. His ego got hurt, blamed Frank. Him and Frank got into it privately, Adin despises Frank and spins and drives a narrative about Frank selling.”

He continued, “Somehow this falls on me and threads farm the whole situation, spinning it into me selling and dumping coins. When I ran the thing up from fucking $3m to $200m organically, top blasted multiple times, invested a fuck ton of money, and NEVER EVER SOLD. The only bad actor in this entire thing is Adin. Point blank. Period.”

Adin Ross Responds

Ross did confirm the validity of the leaked message writing on an alternate X account, “The banks screenshot is real. Shit sad asf , if you guys think that mlg being rugged was me im sorry to tell u it wasn’t,” he wrote from an alternate account. “There’s a reason that entire house is silent, truth will come out eventually. I’m just more hurt on the fact someone I call my brother is behind my back.” 

Before stepping down Banks announced a joint stream with Ross would be taking place writing on X, “On the phone with Adin right now, we’re doing a stream together tonight to address ALL OF THIS,” Banks wrote. “This whole thing has been wildly miscommunicated and destroyed my mental the last several months. I’ve wanted to more publicly talk about this situation for a while. Sucks any of this fucked with me and Adins relationship. See you guys tonight.”

Welp.

You can see reactions to this mess in the gallery below.

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