FaZe Banks hits back at criticism over involvement with crypto

Virginia Glaze

FaZe CEO Banks has offered his response to the criticism around his focus on cryptocurrency as he “reboots” the esports organization from the ground up.

FaZe Clan is in the middle of a major overhaul after laying off 110 employees earlier this year, including many of its top content creators.

After kicking all but fourteen influencers, FaZe founded a new content house with four new members… but that isn’t the only big change the organization has experienced lately.

In March 2024, Banks revealed a new content and media platform called CTV that’s focused on cryptocurrency. This move has seen plenty of skepticism from critics in the space, especially as he’s dropped hints about getting into crypto gaming a la Dr Disrespect’s Deadrop.


Although FaZe has quite a history with cryptocurrency, this latest move has sparked some outrage among fans of the organization, who fear the org will become a crypto company — something he addressed in a CTV episode on May 7.

In the video, Banks argued that he and his fellow crypto investors were pioneers in the industry, arguing that the future will be inundated with cryptocurrency, much like it currently is with the internet and social media.

“Like, there were internet deniers, you know what I’m saying? In 2024, you no longer can deny the internet. Everyone’s participating in this tech whether they know it or not, whether they want to or not. Unless you’re f*ckin’ Amish, right?” he said.

“It’s gonna have to get to that point I think for there to be no comments that look like that. And obviously that’s probably far, far into the future, but we’re laying the foundation now.”

He went on to explain why he’s no longer interested in creating vlogs on YouTube, saying that he “has” to focus on crypto as it’s his passion.

“It doesn’t serve me, it doesn’t serve my soul,” he said of YouTube. “I have no fun doing it. Right now, all this shit you see me doing with FaZe is real work. It’s because I love this f*cking brand and I have to do this. …it’s very reminiscent of early gaming.”

His colleagues agreed with him, saying that although much of crypto is a so-called ‘scam,’ FaZe Clan will uphold the 1% and bring skeptics “into the light.”

It doesn’t look like Banks’ retort is sitting well with critics, a few of whom accused the FaZe CEO of failing to actually address anything.

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