We Finally Know Why FaZe Banks Quit Streaming

Since his very public exit from the FaZe clan, there has been a lot of speculation about exactly why CEO Ricky Banks left the organization he co-founded over a decade ago. Now, supporters and fans of both Banks and FaZe may finally have some closure, as Banks has publicly explained leaving the influencer group. Banks, born Richard Bengston, has been so closely associated with the clan that he is widely known as "FaZe Banks." Despite joining the group three years after its official start in 2010, he's considered to be a founder due to his profound influence on shaping the organization into what it is today.

FaZe originally started as an online collective of gamers showcasing trick shots and other cool videos from "Call of Duty: Modern Warfare 2" gameplay, before growing into one of the first major gaming YouTube channels by 2012. In addition to creating professional esports teams, FaZe also expanded into wider lifestyle content, with its members — including Jasontheween, Rain, Rug, and Apex — becoming popular influencers with millions of followers. Fans became personally invested in the rotating roster of FaZe members, who shared personal details about their lives in addition to displaying their gaming skills.

FaZe has been no stranger to interpersonal drama, including contract disputes, but Banks' exit was one of the most shocking turn of events in the clan's history. Now, fans have some insight into his decision, after Banks replied to a fan post on X, formerly known as Twitter, asking about his stepping down. Banks actually provided a couple of motives and implied that he had intended to leave for some time once newer members were ready for leadership roles. He also mentioned crypto, which many initially believed was the controversial reason he resigned last July.

When Banks first quit the clan, it was widely assumed to be related to the backlash he received after promoting the cryptocurrency MLG Coin, which launched last year. After MLG Coin, built on the Solana platform, was promoted by Banks and other FaZe members, its value skyrocketed before quickly falling. As a result, Banks became closely associated with what many angry investors called an obvious pump-and-dump scam.

Banks has denied any intentional wrongdoing, but does cite crypto as a main reason he is leaving FaZe. In his September 17 tweet, Banks explains, "My interests/ personal brand + lifestyle does not align. I'm 33, I love crypto, I gamble, ... and it just isn't at all what FaZe is today. I'm not interested in pretending I'm someone else or dragging these new guys into my own interests/drama."

I wasn't let go, I left a month ago. I have no business being front facing anything related to FaZe in 2025.

My goal was to breathe new life into FaZe and pass the baton to a new group of friends who do content together. FaZe was dead and I simply couldn't live with that....

— Banks (@Banks) September 17, 2025

Those "new guys" include FaZe members recruited by Banks in his attempt to breathe fresh life into the clan last year. In fact, Banks implies that he always planned on leaving the clan. In that same tweet, he says, "My goal was to breathe new life into FaZe and pass the baton to a new group of friends who do content together. FaZe was dead and I simply couldn't live with that. Mission accomplished, these new guys got it." He adds that there is no ill-will between Banks and FaZe, stating "I'll always be here to help and will always be FaZe's biggest fan. It's all love, it's always been love." Perhaps the move will boost the clan's popularity further, as there are famous celebrities who can't stand FaZe Banks.