FaZe Kay Kicked From FaZe Clan Amid Crypto Drama
Amid the recent cryptocurrency drama, FaZe Kay was kicked from FaZe Clan. He wasn’t the only casualty of this drama, as Jarvis, Nikan, and Teeqo were all suspended until further notice. This is thanks to the accusations of “pump and dump” crypto scams like “Save the Kids”. FaZe Clan made it clear they had no involvement in the recent Cryptocurrency moves that members of the org made, and distanced themselves from all four players. All four promoted “Save the Kids”, which resulted in many fans investing and losing money, thanks to the Pump and Dump.
What Is a Pump and Dump Scam?
When you are creating or promoting an altcoin like Doge, Save the Kids, or what have you, you want famous people to promote it. Allegedly, FaZe Jarvis, Nikan, Teeqo, and Kay were all paid to promote the “Save the Kids” coin. This helps pump up the value and price of the coin because lots of fans of the esports org are investing. Now, the coin has value. As soon as this occurred, the promotors dumped their own personal investments, hence, a Pump and Dump.
FaZe Kay admitted before being kicked from FaZe, that none of this was cleared with FaZe. We recently discussed this crypto drama where Kay responded to the backlash. FaZe Clan kicked FaZe Kay from the org, and also suspended the above players. Kay himself had been with FaZe since 2013 and his brother Jarvis joined in 2019. It’s also interesting that FaZe Banks distanced himself from this crypto drama in a recent tweet, but it doesn’t seem to be around anymore. What he allegedly said was:
“I’ve never one time been a part of a pump and dump. That’s never happened. My wallet’s public. I wasn’t a part of any of this. I’m an open book and have an actual love for this space.”
We have a feeling this isn’t the last we’ve heard about this, regardless of FaZe Kay being kicked out of FaZe. As of right now, we haven’t heard any official statements from the players about the situation. FaZe itself did post an announcement on Twitter:
“We have made the decision to remove Kay from FaZe Clan, and have suspended Jarvis, Nikan, and Teeqo until further notice. FaZe Clan had absolutely no involvement with our members’ activity in the cryptocurrency space, and we strongly condemn their recent behaviour. The trust and respect of our fans has been, and will always be, our number one priority.”
We will keep you up to date as this story develops.