The ongoing controversy surrounding FaZe Banks, whose real name is Ricky Bengston, has taken a new turn with the release of leaked messages that suggest he pressured the MLG team into offering him preferential treatment. The messages, which surfaced on Wednesday, July 31, reveal that FaZe Banks allegedly pushed for discounted token purchases, going so far as to threaten to stop promoting the MLG token if his demands weren’t met.
According to the leaked texts, FaZe, alongside fellow influencer Aydin Ross and other investors, expressed interest in buying large quantities of the MLG token over the counter. However, FaZe made it clear he wasn’t willing to pay the market price, instead asking for a special discount. When the founder of MLG refused, FaZe reportedly threatened to pull his support for the token entirely.
Adding fuel to the fire, the texts revealed that FaZe held a significant 0.6% of the MLG token supply, with plans to increase his stake to at least 1%. This stands in stark contrast to his earlier public statements, where he claimed that MLG was simply a passion project and that he had no financial stake or received any compensation.
The timing of these revelations is crucial, as the MLG token has suffered a massive decline of 93% since reaching its all-time high (ATH). The price collapse followed a meteoric rise, sparked largely by FaZe’s promotion of the token back in October 2024. His endorsement, which came through tweets and online support, helped push MLG’s market cap past $150 million, only for it to crash down to a mere $10 million in the months that followed.
FaZe’s apparent strategy of buying tokens without affecting the market, while continuing to promote the asset to his large audience, echoes the typical structure of a “pump-and-dump” scheme. This revelation paints a troubling picture for those who followed FaZe’s lead, as they may have unwittingly been caught up in a scheme to artificially inflate the token’s value, only to see it collapse afterward.
In the wake of the growing backlash and public scrutiny, FaZe Banks resigned as CEO of FaZe Clan on July 28, distancing himself from the gaming organization amid the fallout. The controversy has left many wondering if this marks a larger trend of influencers leveraging their platforms for personal gain, regardless of the consequences for their followers.
