FaZe Banks and Adin Ross Crypto Feud Unraveled as YouTuber Exits CEO Role

FaZe Banks Steps Down as CEO Amid Cryptocurrency Scandal

FaZe Banks, the former CEO of FaZe Clan, has officially stepped down from his position and has taken a break from social media following allegations that he made significant profits from a cryptocurrency scam. The controversy involves MLG Coin, also known as 360noscope420blazeit, which gained attention in October of last year. This meme coin was heavily promoted by members of the FaZe Clan, including FaZe Banks, and even received support from Adin Ross.

In January 2025, FaZe Banks endorsed MLG Coin, but shortly after, the coin's value plummeted. This led to accusations that both FaZe Clan and Banks were involved in a "rug pull," a term used to describe a situation where investors buy an asset at a low price and then sell it quickly for a profit. Adin Ross also supported the coin in early 2025, adding to the confusion surrounding its downfall.

A screenshot circulating online appeared to show FaZe Banks blaming Adin Ross for the entire situation. In the message, it seems that FaZe Banks claimed Ross's ego was hurt after backing the coin. He also suggested that Ross created a narrative about selling and dumping coins as part of a planned scam, while asserting that he actually invested a significant amount of money without selling. He described the growth of the coin as "organic."

Adin Ross Responds to the Claims

In a post on X (formerly Twitter), Adin Ross confirmed that the screenshot was genuine. He expressed his disappointment, stating that if anyone believed he was responsible for the MLG Coin crash, they were mistaken. Ross mentioned that there was a reason for the silence from the group and hinted that the truth would eventually come out. He added that what hurt him the most was the betrayal by someone he considered a brother.

FaZe Banks Addresses the Situation Publicly

After the screenshot surfaced, FaZe Banks took to social media to address the allegations. In one of his posts, he announced that he was in contact with Adin Ross and that they would be doing a stream together to discuss the issue. He emphasized that the situation had been miscommunicated and had affected his mental health over the past few months. He also expressed his frustration with the negative impact on his relationship with Ross.

In another post, FaZe Banks denied any involvement in a scam, stating that the narrative was unfair. He pointed out that his name being associated with the scandal made it easy for others to manipulate the situation. He also mentioned that the ongoing issues were affecting the team and decided to step away from both FaZe Clan and the internet for a while. He admitted that the situation had ruined his life and expressed uncertainty about returning in the future.

Selling His Position in MLG Coin

As a final move, FaZe Banks revealed that he had sold his entire $MLG position, resulting in a loss of $106,475. He called it the worst scam of all time, given the substantial financial loss. He wished the community well and stated that the real culprit had left the scene.

What’s Next for FaZe Banks and Adin Ross?

Despite FaZe Banks' promise to appear on a stream with Adin Ross "tonight" in a tweet posted on July 28, the event has not yet occurred. It remains unclear when or if the stream will take place.

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