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E-sports collective FaZe Clan denies that it participated in the alleged pump-and-dump of Save the Kids coin, drops and suspends players who promoted the coin: Faze Clan Save Kidshaywarddecrypt

Faze Clan Save Kidshaywarddecrypt: FaZe Clan, members of which have been the subjects of recent allegations that they participated in a pump-and-dump scheme, released a lengthy statement late last night. The collective denied these allegations and suspended players who had promoted the coin on Twitch for “infringing on their contractual obligations.

FaZe Clan’s starting roster: FaZe Rain, FaZe Jev and FaZe Sensei.
FaZe Clan’s managing director, Robert “Faze Banks” Banks, opened his statement by acknowledging that the professional esports organization had agreed to promote Save the Kids coin through its players’ Twitch streams. He did not mention how much they were to be paid for the promotion. FaZe Clan members Rain, Jev and Sensei were among those who promoted Save the Kids coin on Twitch, according to previous TEO coverage.

In his statement, Banks portrayed FaZe Clan as an organization that operates with the utmost integrity. FaZe Clan’s “highly sophisticated and respected compliance team,” he said, had decided to suspend the three players after learning that they participated in buying and selling Save the Kids coin “for their own benefit.” He wrote:

“We felt that this behavior was unacceptable, not befitting of our brand and contradictory to our values. This strayed from what we believe to be reasonable behavior. The players were made aware of this long time ago by our legal team, but chose to ignore these warnings. All three players have been suspended effective immediately. We are still determining the best course of action regarding all parties involved, but will be addressing this issue with the appropriate authorities, if required.”

FaZe Rain (also known as FaZe Rain’s Son), Jev and Sensei all had thousands of Twitch followers. They consistently promoted Save the Kids with emoticons and codes that allowed viewers to buy Save the Kids coins during their streams.

FaZe Clan (also known as FaZe) is one of the largest esports organizations in the world, with local offices in each of the five major esports markets. The team was previously sponsored by FaZe, Banks said: “We are no longer working with Save the Kids, and have released all references to them and their coin.”

Save the Kids is a charity that aims to support children who have been affected by famine and poverty. FaZe Clan members, who previously purchased and promoted the Save the Kids coin, were paying for their young fans’ pizza and other gifts.

On its website, Save the Kids claims that its goal is to “reduce childhood hunger and increase household access to nutritious food.” It has partnered with Facebook to offer free food to students in US schools. It was created by Save the Children in 2016.

“There is no need to panic,” Banks wrote. “We are fully aware of the whitepaper and its allegations. We have reviewed the website and acknowledge that this coin seems to be similar to Save the Kids in some ways, but we remain in complete support of our players and their decision to speak out about charity work.

“They are passionate about Save the Kids, and we believe they have a genuine desire to help those who need it.”

In September 2017, FaZe Clan announced that it had acquired a minority stake in FaZeFormula.

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