"All the best tech start with scams": FaZe Banks responds to backlash for getting FaZe Clan into cryptocurrency

Richard Bengtson, aka FaZe Banks, recently responded to the backlash he's received over getting FaZe Clan involved in cryptocurrency. In a video for his crypto-media platform CTV, the CEO of the esports organization gave his take on getting the relatively new technology into the gaming space.

Bengtson's vision for getting into the cryptocurrency market ruffled a lot of feathers, with many people calling it a scam. Directly addressing such criticism in the video, he claimed that "all the best tech" start as scams:

"I swear all the best tech start with scams. Like the hackers..."

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"We are laying the foundation": FaZe Banks advocates for cryptocurrency, compares its future to that of the internet

Since becoming the CEO of FaZe Clan, FaZe Banks has been making a lot of changes to the organization, including layoffs. For those unaware, a few weeks ago, several streamers and content creators affiliated with the company were let go, with the likes of FaZe Rain leaving of their own accord.

Regardless, FaZe Banks and others in top positions have been calling for a reboot of their brand identity for months. Numerous new signings have been made to fill up the roster, including Twitch streamers, such as Plaqueboymax, Jasontheween, and Silky.

On top of roster changes, FaZe Banks has also been talking about integrating cryptocurrency into the esports organization with crypto-games and more. Only a few days ago, he had a public clash with YouTuber YourFellowArab about the credibility of crypto.

In the latest CTV video, the FaZe Clan CEO compared cryptocurrency with the internet, claiming that there were internet deniers in the past:

"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. Unless you are f*cking Amish."

He then claimed that he and his fellow supporters were laying the foundation for what they think will be a successful cryptocurrency project in the future and that naysayers are to be expected:

"It's going to have to get to that point for there to be no comments that look like that. And obviously, that's probably far, far into the future but we are laying the foundation now."

FaZe Banks' recent decisions concerning how to run the esports organization have been met with mixed reactions. However, he has been holding his ground about the changes he has implemented, responding to critics publicly.