30-07-2025
"I was hurt": Adin Ross responds to Banks' meme coin allegations
Image via:A scandal that put the online-streaming and crypto worlds into shake has seen Adin Ross implode the public response to allegations from former FaZe Clan CEO Richard 'FaZe Banks," who blamed him for the demise of the MLG memecoin.
With the legal fallout from the scandal, the question of influencer crypto projects ensued again, and along with it, the individual clashes.
The Collapse of
MLG Coin
MLG Coin stepped into the Solana blockchain in early 2025 as a joke-based memecoin. With the patronage of celebrities and complementary viral appeal, the memecoin became a serious asset. By January, it had remarkably garnered a market capitalization of upward of $166 million.
Jason Speaks On Banks Stepping Down As FaZe CEO..
Much of the rise was because Ross and FaZe Banks endorsed the token on their social channels heavily. But the hype was short-lived. The price of the coin fell by more than 90% in March, leading to losses for the investors and accusations of a big rug pull.
Leaked Texts Arise Blame Game
Silence in turn was followed by a flurry of accusations. On July 28, leaked was a Banks message shared as a screenshot from a group chat that went by the name 'MLG Official Main Chat,' which left Adin Ross squarely in the blame.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Test Test
Tabbola
Undo
Banks had accused Ross of being the 'only bad actor' and had said that Ross was 'allowing the community to use him as exit liquidity.'
'Adin Ross f**ked this up,' Banks allegedly wrote. 'His ego got hurt, blamed Frank.'
These comments were widely circulated and fueled a social media frenzy, turning the heat toward Ross.
Adin Ross Responds: "I Was Hurt"
On the 30th of July, Ross held a livestream where he directly addressed the controversy, offering a very emotional, personal spin on Banks' remarks.
Speaking at around 15 minutes into the stream, Ross emphasized the depth of their relationship, 'Okay, so here's where I'll start about this, guys, I don't hate FaZe Banks. Okay? I don't hate FaZe Banks. I have history with him, bro. This is someone that, for a very long time, I consider family.
Right? Like, when I woke up and seen this s*t, you can pull up my tweet, too. I was fking hurt. I was hurt. I'm not going to lie to you all, chat, I don't give a f*k, I don't hate the guy. I'm not mad at him, bro. Was this something that caught me off guard? Was it something that I wished didn't happen? Yeah. It hurt. It was all just... it hurt. Okay?"
Ross did not really go into detail on the technical aspects of the coin's rise or collapse, but rather on the very personal feelings of betrayal he experienced with someone whom he had trusted.
His tone was reflective.
Crypto and Consequences
The MLG debacle has served as a cautionary tale in the world of influencer-backed crypto. A craze start-ups into risky financial storms with holders with empty pockets and creators rushing to protect their reputations.
Neither Banks nor Ross have ever accepted the fact that they were behind an alleged rug pull. The accusations were therefore difficult to take at face value, especially with leaked group chats and market dumps happening within the same timeframe.
For now, it appears that Adin Ross has drawn a line between private emotions and public blame. Whether this is the resolution to the controversy or just a break before further revelations come forth is still unknown. One thing is sure, the confluence of influencer culture and crypto hype has remained one explosive mix.
Catch Rani Rampal's inspiring story on Game On, Episode 4. Watch Here!
