'It's still going on': FaZe Adapt responds to Banks quitting as CEO of FaZe amid crypto scandal with Adin Ross

Time of India

6 days ago

(Image via @scubaryan_/X & @banks/Instagram)
The FaZe Clan community is buzzing once again, and this time, it's not about trick shots or collabs. Richard 'Banks' Bengston, longtime face and former CEO of FaZe, has officially stepped down following mounting backlash over his alleged involvement in a controversial crypto scam.
And now, FaZe Adapt, one of the OGs of the group, has finally broken his silence, with a mix of disappointment, hope, and real talk.
FaZe Adapt reacts to
FaZe Banks stepping down
as CEO of FaZe on stream after crypto scandal
During a Twitch stream on July 29, 2025, FaZe Adapt finally addressed the elephant in the room: the crypto controversy involving Banks and his sudden resignation from the CEO position. For fans hoping for a fiery takedown or blind loyalty, Adapt's response was… more real than anything.
Adapt didn't jump to conclusions.
Instead, he acknowledged the uncertainty.
'It's also a thing where it's still going on… So it's hard to sit here and really speak on it in a serious way when it's not handled yet,'
he said.
While he didn't dig into the technicalities, Adapt made one thing clear that watching Banks step down felt rough.
'It sucks to see how it went down and how it unfolded,'
the streamer said.
The scandal that rocked FaZe: What went wrong with MLG coin?
If you've missed the drama, here's the quick rundown: Earlier this year, Banks was heavily promoting 'MLG coin,' a meme-style cryptocurrency pushed during his livestreams, including a now-notorious joint stream with Kick star Adin Ross.
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Within weeks, the coin tanked. Accusations of a classic 'pump-and-dump' flooded X (formerly Twitter), Reddit, and Discord. And when a leaked screenshot showed Banks allegedly blaming Ross for the coin's failure, chaos ensued.
The New FaZe Banks Allegations Might Destroy Him..
Fans took sides, memes exploded, and eventually, Banks announced he was stepping down as FaZe's CEO.
'We've been through worse': Adapt believes FaZe Clan will bounce back
In his stream, Adapt reflected on his 13-year journey with FaZe Clan, through highs, lows, and every chaotic chapter in between.
His message? This isn't the end.
'Over the thirteen years I've been in FaZe... there's been a lot of ups and downs... and every time, we've grown from it,'
Adapt said.
Even with Banks no longer holding the CEO title, Adapt stayed positive:
'I'm confident and optimistic that we'll sort it out and handle it.'
What's next for FaZe Clan?
With the crypto allegations still being unpacked and FaZe Clan in the spotlight once again, the future remains uncertain.
But if Adapt's words are any indicator, the squad isn't backing down.
Between streaming, rebuilding trust, and pushing forward, FaZe is clearly at a crossroads. One thing's for sure: Adapt's loyalty to the brand and belief in its ability to rise from the ashes hasn't wavered.
As for the MLG coin controversy? That chapter's still unfolding. And the internet will be watching.
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