FaZe Clan has seen better days. The premier esports, gaming and streaming organization was forced to depart with one and suspend three more of its members. FaZe removed Kay altogether, while Jarvis, Nikan and Teeqo all got away with "just" an indefinite suspension.
FaZe Clan is four members lighter today than it was yesterday. The org had to make a painful decision involving some of its long-standing members. In the end, overall integrity prevailed over personal loyalty.
Why Was Kay Kicked Out of FaZe Clan?
Kay, Jarvis, Nikan and Teeqo all took part in a pump & dump cryptocurrency scam. The quartet promoted an alternative coin (altcoin), or in simpler terms - cryptocurrency, called Save The Kids, then withdrew their investments in the coin.
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This scheme is popularly know as pump & dump, because you artificially "pump" the cryptocurrency in question's value, and then "dump" your investment, thus bringing its value back down again, making other investors lose money in the process.
It is a morally ambiguous thing to do, and that's putting it lightly. In fact, it is an outright scam that manages to fit within a grey area of the law, which is yet to catch up with the specifics of crypto.
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FaZe Clan are advanced enough in their understanding of the pump & dump scam, and apparently are not fans of moral ambiguity, because the culprits in question have been penalized for their actions.
A statement from FaZe Clan. pic.twitter.com/HnPXpAoSYX
— FaZe Clan (@FaZeClan) July 1, 2021
The decision was likely made without much hesitation, because even other members of FaZe Clan seemingly found out about it via the above tweet. What it shows is that no one within FaZe is safe from punishment when they cross the line. Kay, who got the worst of it, was a part of FaZe for eight years. Nikan and Teeqo have been members even longer. Jarvis, who is Kay's younger brother, is the only one to have joined more recently.
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It is unclear at this time when and even if Jarvis, Nikan and Teeqo are going to be reinstated as FaZe Clan members.
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