FaZe Clan release Kay following alleged scam involving cryptocurrency

FaZe Clan have decided to remove Kay from their organization and dealt out multiple suspensions following an alleged scam which involves ‘altcoins’.

FaZe Banks and FaZe Kay were called out for their involvement in promoting BankSocial in now-deleted tweets. Matt Binder from Mashable reported on the influencers being paid by these companies to promote their cryptocurrencies, with Banks being an ambassador before pulling out of the contract. So far it’s unclear to what extent Kay was involved, but FaZe Clan did come out with a statement releasing him from the organisation.

A statement from FaZe Clan. pic.twitter.com/HnPXpAoSYX

— FaZe Clan (@FaZeClan) July 1, 2021

Aside from Kay being released, FaZe Clan also suspended Jarvis, Nikan and Teeqo, who were allegedly implicated in a pump-and-dump scheme involving another coin called ‘savethekids.io’, reported by YouTuber CoffeeZilla. “FaZe Clan had absolutely no involvement with our members’ activity in the cryptocurrency space, and we strongly condemn their recent behaviour.”

FaZe Kay also went on to make a statement on Twitter, saying he had no ill intent when promoting crypto. “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. While I’m very passionate about the crypto space, it’s extremely complicated & I still have a lot to learn & I caution everyone to look closely before investing.”

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