Richard “FaZe” Banks of FaZe Clan, has responded to the recent crypto scandal that a number of his group’s members were allegedly involved in, stating that he himself had no involvement in the “Save The Kids” crypto pump and dump scam.
While a number of members of the ESports organization FaZe Clan have been dropped or suspended, Banks has attempted to distance himself from the members involved. The influencer recently denied any involvement in the cryptocurrency and criticised the individuals involved:
“I don't know how this isn't 100% clear at this point, but I had zero involvement or knowledge of this SaveTheKids garbage and neither did FaZe Clan. The people involved acted as individuals and did all that shit on their own and have been removed as a result”
Banks tweeted about his involvement, and was keen to make clear that FaZe Clan was also not involved in the crypto scam.
The crypto scam involved members of FaZe Clan promoting the “Save The Children” altcoin and then dumping their investments. Members of FaZe Clan that were suspended included Jarvis, Nikan, and Teeqo, while Kay was dropped by the group.
While FaZe Banks denied any involvement with this particular altcoin scam, Banks has been known to promote various cryptocurrencies and altcoins. His recent promotion of the Bsocial crypto coin was brought up by many as hypocritical on Bank’s part, a crypto coin that steadily declined in value following his promotion.
The promotion of any cryptocurrency to an often younger less financially experienced audience, is something that many have brought up as an issue. The FaZe Clan drama that brought one particular altcoin to the attention of high-level influencers is just the tip of the iceberg. It brings up the ethical side of influencers distributing what some claim is ill-informed financial advice, to an uneducated and easily manipulated audience.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.