FaZe Clan CEO quits amid MLG crypto scandal: ‘Sucks my entire life gets ruined’

Key Points

1. FaZe Clan CEO Richard 'Banks' Bengtson steps down following backlash over the MLG memecoin scandal.

2. Banks and other FaZe members endorsed MLG memecoin, which later crashed, prompting accusations of a 'rug pull'.

3. A leaked group chat revealed Banks blaming Adin Ross for the token's collapse, claiming Ross's community dumped the coin after Banks invested.

4. Banks denied any wrongdoing on social media but expressed frustration over the situation, stating his life was 'ruined over something I didn’t even do'.

5. FaZe Clan has not yet commented on the situation, leaving the organization's future uncertain.