The post FaZe Banks Quits as FaZe Clan CEO Amid MLG Meme Coin Scam appeared on BitcoinEthereumNews.com.

On July 29, FaZe Banks resigned as the CEO of FaZe Clan following an intense backlash on the launch of meme coin MLG Crypto. The 33-year-old entrepreneur stepped down on accusations of pulling a crypto scam while promoting the meme coin. In his message on the social media platform X, FaZe Banks denied any wrongdoing amid the ongoing crypto controversy. His resignation follows months of controversy and allegations tied to a meme coin promoted by Banks and other FaZe members earlier in 2025. 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. The fact this is affecting the guys at all, is whack. So for the time being I’m gunna be stepping away… — Banks (@Banks) July 28, 2025 The meme coin, MLG Crypto, saw a sharp price surge followed by a steep crash, resulting in significant losses for investors. The collapse occurred after initial promotional activity by FaZe members. Banks has stated that he invested heavily in the project and never sold his tokens. As of today, the MLG Crypto price rallied all the way to $0.022. However, it has seen a significant pullback and is trading at $0.012 at press time. Leaked group chat messages dated July 28 reveal internal tensions between FaZe co-founder Banks and content creator Adin Ross over the failed mem coin MLG crypto. FaZe Banks blames Adin Ross for the failed and rugged launch of his MLG coin. “Adin Ross fucked this up, this community dumped on him buyingUsed him as exit liquidityHis ego got hurt, blamed Frank (…) Adin despises Frank and spins and drives a narative about Frank selling.” pic.twitter.com/HePw3yONPn — Adin Reports (@AdinReports) July 28, 2025 In…

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Filed under: News - @ July 29, 2025 5:33 pm