The Real Reason Fans Are Blasting FaZe Clan
Investing can be a dangerous game — one that probably should not be influenced by people who aren't professional financial advisors. It can be easy to follow the lead of public figures you trust, whether or not their decisions are sound, but what happens when those public figures intentionally mislead their followers? Those are the allegations that some members of the FaZe Clan are currently facing, and things are really heating up.
The trouble started when members of the popular org, as well as other influencers like RiceGum, backed a new cryptocurrency known as "Save The Kids." As the name suggests, these tokens were intended to help raise money for children's charities. However, the seemingly benevolent intentions have been called into question after YouTube channel SomeOrdinaryGamers published a video titled "FaZe Clan and Ricegum Should Be Investigated By The Feds..."
In the video, host Mutahar breaks down how FaZe members RiceGum and Jarvis promoted the Save The Kids cryptocurrency and then removed those promotional Tweets. He then took a look at the official website for the crypto and was suspicious of a few things there, notably the lack of background information on the token's developer. After that, Mutahar queued up a graph tracking the drastic decline in the cryptocurrency's value. In other words, it looks like FaZe heavily promoted this cryptocurrency to fans, driving up the value, then bailed right as the crypto lost most of its value. Mutahar is not alone in this theory, either.
The dubious Save The Kids cryptocurrency
In the description of the SomeOrdinaryGamers video, there is a disclaimer that reads, "This video should be taken as an opinion and in no way should be construed as statements of fact." Even so, this whole incident has definitely caused a stir within the community.
In the comments section of the video, it's clear that anyone who is following the incident is not pleased with the FaZe Clan. One user wrote, "These people would be in jail if they were pushing stocks." Another wrote that the people involved in this fundraising promotion are "scammers and liars and cheaters."
One YouTuber in the comments was once courted for a similar sponsorship opportunity, though they questioned the legitimacy and backed out. This person said that the FaZe Clan could have found themselves in a similar situation, though such a possibility would not absolve them of responsibility.
FaZe Kay took to Twitter to apologize to his followers, though the comments were mostly unforgiving. A user commented, "You knew all along that the alt coins 'schemes' you were promoting were pump and dumps."
Although it's unclear how much the FaZe Clan knew going in, it's clear that the org's fans might think twice before investing in the future.