FaZe Banks, co-founder and CEO of the popular esports and content creation organization FaZe Clan, announced on Friday that he is stepping down from his leadership role amid a growing controversy involving alleged crypto scams and streamer Adin Ross. In a statement posted to social media, the 33-year-old strongly denied any wrongdoing. “I’ve never scammed anyone a day in my f—— life,” Banks wrote. “The entire narrative is unfair, and part of the reason it exists is cause my ‘FaZe’ name is so easily framed and manipulated.”
The allegations have reportedly taken a toll on both Banks and the broader FaZe community. “The fact that this is affecting the guys at all is whack,” he continued. “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.”
Though specific details of the crypto-related accusations remain unclear, online speculation and pressure have been building—especially with Adin Ross’s name being linked to the controversy. Banks concluded his message with uncertainty about his future: “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.”
As of now, FaZe Clan has not issued an official statement regarding Banks’ departure or the allegations.
FaZe Banks-Adin Ross Crypto Scam Allegations Explained
The controversy traces back to January 2025, when Banks and several other FaZe members invested heavily in the MLG meme coin. Their involvement helped skyrocket the coin’s popularity and value in the days following its launch. However, the hype quickly died down, and the coin’s value plummeted after thousands of investors sold off their holdings. Since then, accusations have swirled online that Banks and his crew orchestrated a “rug pull” scam, profiting at the expense of fans and investors.
On Monday, July 28, a screenshot leaked from an MLG-related group chat where Banks appeared to blame Kick streamer Adin Ross for the token’s collapse. In the message, Banks said, “Adin Ross f**ked 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.
“Somehow this falls on me and threads farm the whole situation spin it into me selling and dumping coins. When I ran the thing up from fking $3m to $200m organically, top blasted multiple times, invested a fk ton of money, and NEVER EVER SOLD. The only bad actor in this entire thing is Adin. Point blank. Period.”
Adin Ross responded shortly after on his alternate account on X, confirming the authenticity of the leaked message but denying any scam involvement, “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. There’s a reason that entire house is silent; truth will come out eventually.”
Following the leak, Banks announced he was on a call with Adin and planned to stream together that evening to address the situation publicly. However, just an hour later, he revealed he would be stepping down from FaZe Clan and taking a break from the internet entirely.
