FaZe Clan has completely cut ties with former member Kay and suspended three others following a drama involving cryptocurrency.
Over the last few months, FaZe Kay, Jarvis, Nikan and Teeqo were involved in a cryptocurrency experiment that seemed to be in support of a charity. Called “Save the Kids”, the token promised buyers that some of its value would go to charity.
Members of the FaZe clan, along with other notable influencers like Ricegum, promoted the project profusely to their extensive social media followings. FaZe Kay alone has almost 1.5 million subscribers on YouTube.
After several fans poured money into the currency, it inevitably tanked by a huge degree. The value fell to around a tenth of what it was previously.
As such, FaZe Kay has since issued an apology to his audience for misleading them into a scam.
“I want you all to know that I had no ill intent promoting any crypto alt coins,” he writes. “I honestly & naively thought we all had a chance to win which just isn’t the case. I didn’t vet any of this with my team at FaZe and I now know I should have.”
Kay also comments that while he’s passionate about crypto, he still has much to learn. He says that it was irresponsible of him to promote the coin on his public domains.
How has FaZe Clan responded?
As Kay mentions, they didn’t clear any of these promotional arrangements with FaZe clan. Due to the fallout from the events, FaZe clan has decided to remove Kay from the organisation. Jarvis, Nikan, and Teeqo, who were also involved in promoting the coin, have been suspended for the time being.
“FaZe Clan had absolutely no involvement with our members’ activity in the cryptocurrency space, and we strongly condemn their recent behaviour,” says FaZe clan’s response.”The trust and respect of our fans has been, and will always be, our number one priority.”
A statement from FaZe Clan. pic.twitter.com/HnPXpAoSYX— FaZe Clan (@FaZeClan) July 1, 2021
Featured Image Credit: FaZe Kay via YouTube/Maxim Hopman via Unsplash