FaZe Clan dropped content creator Frazier “Kay” Khattri and suspended Jarvis, Nikan, and Teeqo over a pump and dump cryptocurrency scam.
FaZe Clan dropped content creator Frazier "Kay" Khattri and suspended Jarvis, Nikan, and Teeqo over a pump and dump cryptocurrency scam.
Why did FaZe Clan drop Kay?
FaZe made a surprise announcement last evening when it unceremoniously dropped content creator kay and indefinitely suspended Jarvis, Nikan, and Teeqo. Many fans were shocked, but several members of the media suspected the group would eventually receive some sort of discipline.
FaZe Kay's role in leading the charge on Save the Kids is what led to him being kicked. Neither he or Jarvis, Nikan, or Teeqo have released a statement.
What is Save the Kids and why is it a scam?
In a groundbreaking video by SomeOrdinaryGamers, FaZe Clan members were shown to "pump and dump" the Save the Kids token to profit. The Save the Kids $KIDS token was a cryptocurrency BEP-20 token that was created in the aims to help donate millions of dollars to kid related charities.
The website is currently offline, but the Save the Kids "charity token" was intended to raise money for charities and featured brand ambassadors such as RiceGum, Sommer Ray, and the aforementioned FaZe members. The scam occurred when brand ambassadors bought tokens at a super low price, promoted the token to their followers, and unloaded their tokens at the higher price to profit.
While FaZe Clan have not been directly linked to the Save the Kids campaign or the pump and dump scheme, their association with Kay and friends is clearly unhealthy for the brand. After a relatively good year of PR for FaZe, the esports lifestyle brand cannot afford any negative fallout from this fiasco.
It remains to be seen if the SEC will investigate the $KIDS token or those involved and we will update this story as news is released.