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Is FaZe Clan a scam?

Now, FaZe Clan, a successful esports organization and influencer incubator, has suspended four members involved with the cryptocurrency coin, with some online accusing the coin of being a scam.

Did FaZe members participate in a 'pumping and dumping' scam involving cryptocurrency?

Members of the FaZe Clan were accused of participating in a 'pumping and dumping' scam involving cryptocurrency. Pumping and dumping is a form of security fraud, it involves artificially inflating the price of a stock through false and misleading statements in order to sell at a higher price.

Did FaZe Clan promote a 'save the kids' crypto token?

The team tweeted, “FaZe Clan had absolutely no involvement with our members’ activity in the cryptocurrency space, and we strongly condemn their recent behaviour.” According to media reports, the four FaZe members promoted to their online followers a “Save the Kids” crypto token that allegedly was donating part of its proceeds to charity.

Did FaZe Clan run a Ponzi scheme?

People were outraged by the allegations. Four members of the immensely successful esports group FaZe Clan are accused of running a Ponzi-type scheme involving a cryptocurrency that was supposed to benefit children’s charities.

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