"Destroying my life inside and out": FaZe Banks says he is "stepping away" from FaZe Clan and the internet after crypto scam allegations

FaZe Clan member and internet personality Richard "Banks" has announced that he will be "stepping away" from the organization and will be taking a break from the internet entirely. This decision follows allegations suggesting his involvement in a supposed cryptocurrency scam alongside Kick star Adin Ross.

In an X post on July 28, 2025, Banks denied any involvement in a scam of any sort and stated that the current online "narrative" against him is "unfair," writing:

"I’ve never scammed anyone a day in my f**king life. The entire narrative is unfair and part of the reason it exists is cause my 'FaZe' name is so easily farmed and manipulated. The fact this is affecting the guys at all, is whack. So for the time being I’m gunna be stepping away from not only FaZe, but all this internet sh**. It’s destroying my life inside and out. Sucks my entire life gets ruined over something I didn’t even do. The real ones know. I wish I could say I’ll be back, but I really don’t know if I will."

FaZe Banks announces his break from the internet in an X post (Image via Banks/X)

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What are the allegations being made against FaZe Banks and Adin Ross?

Adin Ross and Banks addressing the allegations being made against them online (Image via @CxntCondoneIt/X)

In January 2025, Banks and other FaZe Clan members reportedly began promoting a cryptocurrency called MLG. With their full support, the coin’s value grew significantly.

In February 2025, Banks also appeared on Adin Ross' livestream, where the pair discussed the concept of meme coins and the MLG cryptocurrency.

However, the value of the MLG coin eventually dropped sharply, resulting in massive losses for fan investors. Banks was subsequently accused of participating in a "pump-and-dump" scheme, an allegation he has denied since.

Now, in July 2025, a screenshot surfaced on X, appearing to show Banks blaming Ross for the decline in the coin's value. He seemingly wrote:

"Adin Ross f**ked this up, this community dumped on him buying Used him as exit liquidity... When I ran the thing up from f**king $3m to $200m organically, top blasted multiple times, invested a f**k ton of money and NEVER EVER SOLD The only bad actor in this entire thing is Adin. Point blank. Period."

Ross responded in a post to his X Community on July 28, 2025, expressing disappointment over Banks’ apparent accusation. Stating that the "truth" would eventually be made public, Ross wrote:

"The banks screenshot is real. Sh** sad asf, if you guys think that mlg being rugged was me im sorry to tell u it wasn't. There's a reason that entire house is silent, truth will come out eventually. I'm just more hurt on the fact someone I call my brother is behind my back."

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In other news, internet personality Alex "Loloverruled" is facing allegations of sexual misconduct, including accusations that he sent inappropriate media to women online.

Edited by Rachel Syiemlieh