"Crazy thing to read": FaZe Rain comments on FaZe Banks allegedly blaming Adin Ross for MLG meme coin controversy

Former FaZe Clan CEO Richard "FaZe Banks" recently announced his decision to step down from the Clan's executive position following a cryptocurrency-related controversy surrounding the "MLG coin," which made headlines on July 28, 2025. Richard's fellow Clan member and former FaZe New York housemate, Nordan "Rain," criticized the former CEO for pinning the blame on Kick's Adin Ross.

For context, the MLG coin, also dubbed "360noscope420blazeit," was a meme-themed token heavily promoted by Banks and Ross, starting in January 2025. Fuelled by influencer hype, the coin rose reportedly to about $166-200 million in market capitalization, only to crash to $12 million.

Many criticized the operation for being a "rug pull," and Nordan called out Banks for labeling Ross as a "bad actor" when criticism arose. These labels came to light via a series of leaked DMs that circulated on the internet:

In a Twitch stream following the alleged scam, Rain mentioned how there was a lack of accountability on Banks' end:

"One thing I haven't seen [Richard] say is, if those DMs are real or not... it seems like he's kinda dancin' around that topic. We all f**k up, we all make mistakes, but it's all about taking accountability, like, 'Ay, bro, I said that sh*t, my fault, I was wrong. I threw you under the bus, when I should take blame for that...'."

The DMs from the Clan member seemingly criticized Ross and his community, mentioning that Adin's supporters used their favorite streamers' involvement in MLG as a way to enhance "exit liquidity" through a mass "dump." Rain suggested that FaZe Banks' approach to the coin crash and the subsequent targeting of Adin Ross was a flawed retaliation:

"I genuinely couldn't believe it when I saw that message, especially with the way it was worded. When I read that sh*t at the end saying there's only 'one bad actor in this, and it's Adin,' I was like 'What the f**k!,' that was a crazy thing to read, right?"

Notably, a significant part of Rain's criticism relates to Banks' orchestration of the situation and how he made an important "connection" happen between Adin and an individual named "Frank":

"'Somehow, this falls on me.' I mean, to be fair, bro, it's like you kinda made the connection there. So, it's kinda like if I brought one of my friends over to my other friend's homie, and he robbed him, it falls on me. It falls on the person that made that connection."

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Jasontheween speaks on the Clan's future following FaZe Banks' decision to step down from being CEO

FaZe Clan member Jasontheween, who became one of the most subscribed Twitch streamers following his collab streams with Sakura Shymko, spoke about whether things would be different after the leadership change:

"As y'all seen, Banks has fully stepped down publicly as CEO... there's a lot of sh*t being handled in the back end that y'all just don't need to know about."

Essentially, he mentioned how group projects would continue to happen and that all the core FaZe streamers remain on good terms:

"Everything that's happening right now, on Twitter, it will not affect the group, or future content, the subathon still goin' on, we're all still boys, nothing is gonna change, and that's basically it."

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In other news, FaZe Banks has announced that he will be stepping away from both FaZe Clan and the internet, citing that the recent crypto scam allegations have been "destroying his life inside and out."

Edited by Abu Amjad Khan