Banks seemingly announces retirement from FaZe Clan and content creation amid MLG meme coin scandal

Banks seemingly announces retirement from FaZe Clan and content creation amid MLG meme coin scandal
Banks seemingly announces retirement from FaZe Clan (Image via instagram.com/banks)

Richard "Banks" Bengston has seemingly announced his retirement from FaZe Clan and content creation following the recent MLG meme coin controversy. On July 30, 2025, Banks spoke with Adin Ross during the latter's ongoing Kick stream to resolve their differences following the alleged cryptocurrency rug pull.

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During their conversation, Ross expressed his belief that Banks should not take a hiatus from the internet and instead "explain himself." The 24-year-old said:

"People want to know, I can see the most is... you should try... I feel like you shouldn't go off the internet. I feel like you should explain yourself."

In response, Richard seemed to imply that he was done with the FaZe Clan, claiming that the organization's members "got it from here." Banks went on to say that he would focus on "being a bum," because, according to him, that was the "standard" that people set for him:

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"Adin, you do have a great heart. And, like, this was genuinely, like, brother, between you and Frank personal bulls**t, this was just some s**t that just spiraled completely out of control. Do we agree on that? 100%. And I appreciate you, but frankly, I'm good off that. Like, I came up with the thought to help bring the FaZe s**t back. I think we did that. I'm good. These boys got it from here. And I'm going to f**king... I'm 33 years old, I don't have a f**king kid, I'm a f**king bum by everybody else's standards, so I'm just going to focus on that."
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Banks says he "fell for the bait" while explaining why he blamed Adin Ross for the MLG meme coin fiasco

During the same livestream, Banks admitted to blaming Adin Ross for the MLG meme coin controversy in a text message that went viral on social media.

For context, on July 28, 2025, a message sent by Richard in the "MLG Official Main Chat" group chat surfaced on X, in which he described Ross as being the "only bad actor" in the MLG cryptocurrency project.

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He wrote:

"Adin Ross f**ked this up, this community dumped on him buying. Used him as exit liquidity. His ego got hurt, blamed Frank. Him and Frank got into it privately, Adin despises Frank and spins and drives a narative about Frank selling. Somehow this falls on me and threads to farm the whole situation spin it into me selling and dumping coins. When I ran the thing up from f**king $3m to $200m organically, top blasted multiple times, invested a f**k ton of money and NEVER EVER SOLD. The only bad actor in this entire thing is Adin. Point blank. Period."
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While claiming to have "fallen for the bait" when he wrote this message, Banks said:

"Bro, this thing spirals to the point where I fall for the bait. I posted in this f**king chat... a version of a series of events, and you read it. It was a f**king wack-a** message. I should've just called you again. But I just feel like the story and all the details about it haven't been properly represented. And everybody involved feels that way."
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While Banks seems to have expressed his intention to retire, FaZe Clan has not issued an official statement regarding his resignation as CEO.

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Edited by Ashmita Bhatt
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