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 afterlaying off 110 employeesearlier this year, including many of its top content creators.
After kickingall but fourteen influencers,FaZe founded a new content house withfour new members…but that isn’t the only big change the organization has experienced lately.
Although FaZe hasquite 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 ina CTV episodeon 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.
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“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.”
Addressing the Crypto controversyhttps://t.co/g3mByb6rNy
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.
Virginia Glaze is Dexerto’s Entertainment Editor in the US. She expertly covers trending stories across Twitch, Kick, YouTube, and TikTok – as well as fighting games and influencer boxing. Virginia also has bylines at Red Bull, GINX, and Bandai Namco. Contact her here: virginia.glaze@dexerto.com
