FaZe Banks defends FaZe Clan’s crypto leap

Banks defended the move into crypto, citing skepticism as common for innovative technologies

Richard Bengtson or, as he is better known, FaZe Banks, CEO of FaZe Clan, has answered backlash regarding the esports and entertainment organization’s foray into the cryptocurrency realm.

In a recent video aired on Banks’ crypto-themed media outlet CTV, the FaZe Clan CEO commented on concerns regarding the proliferation of cryptocurrencies into the gaming world.

The discussions were sparked by the recently signed multi-million-dollar sponsorship deal between renowned crypto gambling platform Rollbit and FaZe Clan. The collaboration primarily aims to support FaZe Clan’s operations outside North America and in particular the organization’s Counter-Strike 2 team, which is the current leader in Valve's world ranking.

In the CTV video, Banks noted that the organization’s move into the crypto world has stirred controversy sparking scam allegations. However, he stood by his decision saying that most innovative technology that turns out to be revolutionary in the end starts off being the subject of skepticism.

Banks gave an example with the internet saying:

“There were internet deniers, you know what I am saying? In 2024 you can no longer deny the internet. Everyone is participating in it as tech whether they know it or not, whether they want to or not.”

Since Banks took the helm as CEO of FaZe Clan, the esports company has gone through some major changes such as laying off a portion of its workforce and overhauling its brand identity. In addition, the company has signed Twitch streamers Plaqueboymax, Jasontheween, and Silky to diversify its rooster. However, stakeholders have criticized Banks’ focus on introducing crypto.

Banks has been quite vocal with his support of cryptocurrencies. On previous occasions, he has also stated that he would like to incorporate crypto into FaZe Clan with initiatives such as crypto games.

Banks and his team envision themselves as crypto pioneers in esports laying the foundation for a venture that they believe will experience success in the future. Banks note there are scams in the crypto industry, however, he also highlighted that FaZe Clan has made a commitment to always uphold integrity and transparency.

Despite the skepticism, Banks remains resolute in FaZe Clan’s adoption of cryptocurrency and blockchain technology believing that this will pave the way for the organization to play a major role in the industry.

Looking for your next crypto casino? Check out Mega Dice or FortuneJack!

Written by Silvia Pavlof

Silvia has explored various forms of writing, ranging from content creation for social media to crafting movie scripts. Drawing on her experience as a journalist specializing in the gambling sector, she is currently investigating the impact of cryptocurrencies and blockchain on traditional gambling and iGaming.

Similar News