(Not financial advice)
FaZe Clan has punished four of their members for involvement in a shady cryptocurrency “pump-and-dump” scheme.
In June of this year, FaZe Clan’s Kay, Jarvis, Nikan and Teeqo were involved in the launch of an alt-coin by the name of “Save The Kids” (KIDS). The sell for this coin was that a percentage of the sales would go to charity. What’s not to love? You buy into a scam investment and you’re helping kids! It naturally attracted some attention, especially with influencers like Ricegum and the aforementioned FaZe Clan members talking all about it on their social media… with the addition of (Not financial advice) on the end of every post.
Well, turns out every level of it was shady as Hell, as both SomeOrdinaryGamers and Coffeezilla went over in their videos on the subject.
The Cliff’s Notes version is that anyone that bought into this shitcoin wound up holding the bag two days later when the bottom fell out. And since that make the Clan look bad, well, Kay had to go, and Jarvis, Nikan and Teeqo all got a suspension.
Kay’s stance on the matter:
FaZe’s founder, Banks, is not exactly a stranger to such scandals, and has, of course, distanced himself from the drama.
None of the members implicated have spoken on it since. Though you might remember Jarvis from that time he got banned from Fortnite for using a cheating utility.
Source: PC Gamer
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