FaZe Banks Says He Left FaZe Because His "Personal Brand" No Longer Aligns With the Group
"It’s destroying my life inside and out."
Published Dec. 4 2025, 3:32 p.m. ET
FaZe Banks (real name Richard Bengtson), the co-founder of the esports and gaming brand called FaZe Clan, left the organization in July 2025, amid accusations of a cryptocurrency scam. He had been with the group since 2010.
Banks denies scamming anyone and finally broke his silence on why he stepped away from the group. Here's what happened.
FaZe faced allegations surrounding the "$MLG" meme coin in 2025.
FaZe members and streamer Adin Ross promoted the coin in early 2025, per Sheep Esports. The token rose to about $150-200 million and then swiftly dropped, causing many to lose money.
People accused FaZe of planning a "pump-and-dump" scheme, but Banks said he wasn't involved.
A leaked screenshot from a group chat showed Banks blaming FaZe member Adin Ross for the plummet in value.
In July, after the scam allegations, Banks posted a now-deleted tweet announcing his departure.
He wrote, "For the time being, I’m gonna be stepping away from not only FaZe, but all this internet s--t. It’s destroying my life inside and out ... I wish I could say I’ll be back, but I really don’t know if I will."
He later clarified his departure, saying he had "no business being front facing anything related to FaZe in 2025." He said, "My goal was to breathe new life into FaZe and pass the baton to a new group of friends who do content together. FaZe was dead and I simply couldn’t live with that. Mission accomplished, these new guys got it."
He added that his personal brand and lifestyle "no longer align" with FaZe's image, according to Dexerto.
Referring to his gaming hobby and interest in crypto, he told a fan, "I'm not interested in pretending I’m someone else or dragging these new guys into my own interests/drama. Like I said before, I’ll always be here to help and will always be FaZe’s biggest fan. It’s all love, it’s always been love."
Banks went on Ludwig Ahgren's podcast 'The Yard' to talk about his exit.
On The Yard, Banks said he got "every possible sign a human being could get from the universe" to step away from the organization, per Esports Insider. He also said his relationship with the group was "toxic" and "very emotional."
He added, "I’m on a whole new path in my life. I’ve been sober. I’m trying to be healthy, and I’m just trying to focus on s--t that actually brings me joy and I find fulfillment and purpose in."
Fans previously accused FaZe of scamming them with the Save the Kids crypto token in 2021.
The influencers promoted the "Save the Kids" token, which was supposed to have "a mission to build a better world for kids." The description said they would donate a portion of the proceeds to charity, according to Business Insider.
After many fans invested, the token dove in value, and people quickly lost money. According to Kotaku, their followers "pumped money into this scheme, believing their investment was protected by the high profile of those endorsing it, only to see their money disappear almost overnight."
The FaZe company denied being part of the scam and suspended three members for their involvement in the ordeal. "FaZe Clan had absolutely no involvement with our members' activity in the cryptocurrency space, and we strongly condemn their recent behavior," they wrote in 2021.