Report
July 29, 2025, 11:00 AM
FaZe Clan CEO Banks steps down amid cryptocurrency scam allegations
On 28 July 2025, Richard 'FaZe Banks' Bengtson stepped down as CEO of FaZe Clan and withdrew from public life amid allegations that he and Adin Ross had promoted the MLG meme coin, a token that had soared to an estimated market cap of $150–200 million before collapsing. Bengtson firmly denied the accusations, attributing the fallout to the manipulation of his 'FaZe' name.
