Following A Crypto Scam, FaZe Clan Members Are Kicked Out And Suspended

Kay has been removed from FaZe Clan, while Jarvis, Nikan and Teeqo are suspended. You may know Jarvis from this knockout from the recent Tiktok vs YouTube boxing card:

FaZe clan members were promoting a "Save the Kids" cryptocurrency coin. The mission behind the coin was to "redistribute wealth to both holders and charities".

FaZe clan is one of the largest gaming organizations in the world. Starting from Call of Duty trickshots, they have now transitioned into more of a media company with vlogs and various forms of content. Their following is massive, with their org twitter account having over 5M Twitter followers. Sub count on YouTube: Jarvis (4.8M), Kay (6.1M) Nikan (1.4M) Teeqo (2.7M)

Originally, FaZe clan members were pushing the narrative that they were doing this promotion out of the goodness of their heart. What happened next should sound familiar - the coin was stable for a day or two after their promotion and then immediately plummeted. For reference, one token went from 1 penny to 1/10th of one penny, aka a 90% loss in value.

This is where things get interesting - as more information gets uncovered, it reveals that certain FaZe clan members bought the coin during presale (at a discounted price prior to it being available to the public) and then sold their share of coins after promoting, causing the massive decline. A standard pump and dump.

Here's what former FaZe member Kay had to say on the situation via a Twitter Thread:

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We are still waiting for more information to be released or uncovered, but as of now, Kay has been released from FaZe clan and Jarvis, Nikan and Teeqo are suspended.