FaZe Banks and Adin Ross crypto feud explained as YouTuber steps down as FaZe Clan CEO

FaZe Banks has stepped down as CEO of FaZe Clan and away from social media following allegations he made a lot of money from a cryptocurrency 'scam' and a screenshot that circulated online appearing to show he blamed Adin Ross for it.

MLG coin, also known as 360noscope420blazeit, is a meme coin that launched in October last year. It was heavily promoted by members of the FaZe Clan, including FaZe Banks, with Adin Ross throwing his support behind it too.

FaZe Banks backed it in January 2025 but MLG Coin crashed soon after and accusations of FaZe and Banks performing a 'rug pull' started circulating on social media - a 'rug pull' is where snipers who buy the asset where it's cheaper instantly sell it where it's more expensive and end up making a huge profit. Ross also backed it in early 2025.

And now a screenshot has circulated online seems to show FaZe Banks has blamed all of it on Ross.

Here's a look at what we know so far.

  FaZe Banks has appeared to blame Adin Ross for the MLG Coin 'rug pull' / Getty Images

What does the viral MLG Coin screenshot say?

A screenshot of a message that seems to be from FaZe Banks in the MLG Official Main Chat appeared to show he said Ross's "ego got hurt" after Ross backed the coin.

FaZe Bank also seems to have claimed Ross created the narrative that he was getting heat for selling and "dumping coins" as part of a planned scam but that he actually "invested a f*** ton of money and never ever sold" and that its growth was "organic".

FaZe Bank is alleged to have said: "The only bad actor in this entire thing is Adin. Point Blank. Period."

What has Adin Ross said about Banks?

In a post on X / Twitter, Ross claimed "the Banks screenshot is real".

He said: "S*** sad asf, if you guys think that MLG being rugged was me I'm 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."

What has FaZe Banks said about Adin Ross?

After the screenshot emerged online, FaZe Banks posted a number of times on social media.

In one post, he said: "On the phone with Adin right now, we're doing a stream together tonight to address ALL OF THIS.

"This whole thing has been wildly miscommunicated and destroyed my mental the last several months.

"I've wanted to more publicly talk about this situation for a while. Sucks any of this f***** with me and Adin's relationship. See you guys tonight."

In another, he said: "I've never scammed anyone a day in my f****** 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 s***. 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."

In a third, he added: "For the first time since I started buying, I have officially sold my entire $MLG position for a total LOSS of -$106,475.

"Has to officially be the worst 'scam' of all time considering I lost 6-figures. Wish the best for their community and everyone else's. The bad guy is gone."

FaZe Banks then took to Instagram Stories to explain more about what happened and how he is feeling.

One post appeared to show a series of messages from someone saying that someone is "trying to run a smear campaign" to "place the blame" on him.

  Faze Banks shared a screenshot of someone messaging him claiming a "smear campaign" was being run against him / @banks, Instagram

In further posts, he added: "I'm good, I promise. Don't worry about me. This all just feels incredibly unfair. I just have a reason to believe there's a reason for it.

"Anybody with a brain or anyone who's bothered to look into details of the 'scam' garbage knows it's simply me being farmed. Simple as."

When are FaZe Banks and Adin Ross streaming?

Although FaZe Banks said both he and Ross would be appearing on a stream "tonight" in a Tweet posted on 28 July, this has not yet happened and it's not currently known when it will happen.

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