FaZe Banks Continues To Back Away from Crypto Drama | #socialmedia

Jason Parker
in General | Jul, 7th 2021

The “Save The Kids” crypto drama continues to hang over the head of Banks and the rest of FaZe Clan. In a more recent move, FaZe Banks dropped Kay from the org and suspended several others. Since then, Richard “Banks” Bengston made it clear he had absolutely nothing to do with the crypto drama that surrounds FaZe Clan right now. He continues to distance himself from the issue, but the negatives that came with the crypto altcoins is not simply going to go away. 

Back on May 27th, FaZe Banks was promoting BankSocial.io, which has long since been deleted. In this, Banks was offering 10,000 to a fan that spread the word. This coin went from $0.000005 to $0.00000919 (Peak), then down to $0.00000115. That peak was within 24 hours of the tweet. As you can see, courtesy of Coin Gecko, the coin is virtually worthless. Currently, its valuation is $0.000000996038. Banks insists he wasn’t part of any form of Pump and Dump scam though. He claimed that his wallet is public and that he wasn’t involved in scamming anyone.

Yesterday, FaZe Banks made a statement about the Crypto Drama, in particular, the “Save the Kids” coin drama. His statement was that he had nothing to do with it, and zero-knowledge:

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.

We want it to be clear that we aren’t accusing Banks of any wrongdoing. With that said, FaZe Banks lives with Ricegum, one of the parties involved in the Save the Kids coin. The video went viral pretty fast and was called a scam quickly on social media. We can’t know with any certainty that FaZe Banks did know, but it seems strange that he’d miss out on this announcement, especially with his org members involved.

It’s incredibly dangerous to be involved in pump and dump scams. The FTC does not mess about, and there’s always a chance of prosecution for people involved. The FBI likely takes wire fraud/pump and dump scams very seriously. With the recent wave of backlash on influencers scamming their audiences with cryptocurrency, investigations could start popping up.

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