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<\/a> and SomeOrdinaryGamers<\/a>, who both independently did thorough investigations with strong evidence pointing towards a pump and dump scheme.<\/p>\n 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.<\/p>\n 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.<\/p>\n On 27th May, Banks promoted a new cryptocurrency called BankSocial.io 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.<\/p>\n 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.<\/p>\n 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.<\/p>\n