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FaZe Banks insists he didn't have any involvement in Save The Kids crypto controversy

The FaZe Clan owner says his crypto wallet "always has been public" and that anyone can check his crypto activities at any given moment.
FaZe Banks insists he didn't have any involvement in Save The Kids crypto controversy

The FaZe Clan founder and co-owner, Richard "FaZe Banks" Bengston, claims he had nothing to do with the alleged "Save The Kids" pump and dump crypto scam, which has been promoted by several prominent FaZe Clan members.

The Save The Kids crypto has been promoted by Frazier "Kay" Khattri, who has been dropped from the organisation, and his brother, Jarvis "Jarvis" Khattri, Nikan "Nikan" Nadim and Jakob "Teeqo", who were suspended indefinitely.

FaZe Banks crypto scam
FaZe Kay and Banks are close friends (Picture: Kay)

They, alongside several big influencers not related to FaZe, have been promoting the Save the Kids crypto for several weeks, until it got the attention of YouTubers Coffezilla and SomeOrdinaryGamers, who both independently did thorough investigations with strong evidence pointing towards a pump and dump scheme.

In short, a pump and dump crypto scheme works by someone creating altcoins, collaborating with influencers to promote it by buying coins (pump) and then they sell (dump) all their coins for a profit before the crypto inevitably loses its value.

Upon being exposed, FaZe Clan made a statement denouncing the involved members and their actions, claiming that the organisation had nothing to do with it, but many believe that there's more to this story, especially given Banks' recent actions where he promoted another altcoin.

FaZe Banks crypto scam
A tweet Banks later deleted, where he promotes a new coin (Picture: Banks via Twitter)

On 27th May, Banks promoted a new cryptocurrency called in a tweet he later deleted, but he claims that was just a giveaway, and that he deleted it because he deletes all his giveaway tweets.

The coin has since lost its value tremendously, but Banks claims he had never sold "$1 worth of my Bsocial" and that anyone can check his crypto wallet.

Furthermore, Banks categorically denies his involvement in the Save The Kids crypto, claiming that he was neither partaking nor he had any knowledge about it until it has brought to his attention.

"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," Banks tweeted out. "The people involved acted as individuals and did all that shit on their own and have been removed as a result."

Banks states that "nobody's more upset" about the whole fiasco than him, and that the situation is embarrassing for the org. He claims that things would have been different if they have approached him with the idea.

"I honestly wish these guys came to me about this in the beginning so I could've shut the entire thing down before it was too late. We had no idea," he wrote.

Despite kicking them out of the organisation, Banks recently stated that it wasn't an easy decision for him, calling them "my brothers" and hoping they could come back to FaZe, but stating that "it's up to them" if that would happen or not.

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