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FaZe Banks made multiple posts on X urging his audience to invest in a new memecoin cryptocurrency named $MLG.
FaZe Clan CEO Richard Bengston, aka FaZe Banks, recently posted on X encouraging his audience to purchase the $MLG “memecoin.” In cryptocurrency, the term memecoin refers to a meme- or pop culture-inspired cryptocurrency.
In his post, Banks said that the $MLG coin is a good starting point for getting into the cryptocurrency. He warned his audience to consider every dollar invested into anything “zero.” FaZe Banks also claimed that he has no affiliation with $MLG.
The $MLG coin refers to Activision Blizzard-owned subsidiary Major League Gaming. The organization hosts esports tournaments for Smite, Dota 2, Call of Duty, and other games. At the time of writing, there is no official word from Activision Blizzard being associated with $MLG.
Controversial NFT Founder Frank DeGods Invested in $MLG
The FaZe Clan CEO made multiple posts telling members of his X community, “Banks INTERNS,” to consider investing in $MLG. He said that crypto investor Frank DeGods is an investor in the project, which gives him confidence in the memecoin. Banks urged his viewers to invest in the coin, saying:
“You won’t ever have a better chance in your lifetime to acquire generational wealth. Please stop procrastinating and just get yourselves involved one way or another.”
Whether it’s this or just simply buying BTC, get yourselves involved in Crypto this year. You won’t ever have a better chance in your lifetime to acquire generational wealth. Please stop procrastinating and just get yourselves involved one way or another. pic.twitter.com/baWHqJRcgG
— FaZe Banks (@Banks) January 6, 2025
Frank DeGods is the pseudonym of Rohun Vora, a former film student from the University of California, who co-founded multiple non-fungible tokens (NFTs). Multiple internet users accused DeGods of scamming his audience and raised concerns around his investments.
The reality of @frankdegods wallet activities:
— charzy (@charzymax) October 27, 2024
He claims that he turned 3 SOL into $500k without launching or sniping coins. But the truth is he bought $Slop on pumpfun and began selling 45 mins after buying. Charts don’t lie. Let’s stop misleading the web3 community. https://t.co/NBpN4rDIaY pic.twitter.com/cmA4xvDUeu
Despite the concerns surrounding $MLG, Banks tried to convince his audience to buy the coin by saying:
“MLG is just the perfect entry for somebody specifically in gaming because you’re already familiar with all the references, the terminology, the language spoken.”
FaZe Banks Does Not Know the $MLG Team
The FaZe Clan CEO revealed in a video that he does not know the $MLG team. He clarified:
“I’m not paid, I do not know the team, I don’t have any sort of additional. There’s nothing behind the scenes that I know that you guys do not know. I don’t have any sort of additional advantage to this. I fully found this on the timeline. The biggest thing above all else is every single dollar you invest into anything for the rest of your lives. Whether its crypto, anything else, you should always consider it zero.”
FaZe Banks advice on Crypto & co-signs $MLG pic.twitter.com/o4AT7lYvWo
— Meech (@Meechski) January 7, 2025
FaZe Banks claimed he has “zero affiliation” to the token and he has not been paid to promote it. He claimed that he wouldn’t trim profits or “touch this bag” until the cryptocurrency hits the $100 million market cap.
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