FaZe Down

FaZe Down

This whole situation is another example of influencers shilling shit coins for a profit.

Back in early June, four members of FaZe Clan and other notable influencers shilled a coin called Save the Kids (KIDS). Many have called this project a scam coin because many original influencers and the dev team have sold off their coin. In now-deleted tweets, influencers shilled the coin to their fans, many saying they were in it for the long haul. In now uncovered evidence, it turns out many influencers did sell off a majority of their coins right after launch. 

What is Save The Kids?

The Save the Kids token was a charity token created to “give each kid a chance for a better life, even if we are talking about health, wealth or education.” This charity token was supposed to raise funds for children in need. Ultimately the project has been abandoned by the devs and has fallen by about 60%. 

The funny part about this coin is that it was advertised as safe from a pump and dump because of an apparent code that would not allow whales and bots to sell off more than .01% of their holding in 24 hours. This code was changed before launch, allowing whales (influencers in this case) to sell off their assets.

Youtuber, Coffeezilla, was one of the first to point out the skem, and in his video below, he goes into great detail about the whole situation.

Another great watch on the subject is Some Ordinary Gamers (Mutahar)

The Main Culprit

The sole person to be released from the team was FaZe Kay, a popular YouTuber and twitch steamer. In a tweet about the situation, he claimed ignorance of the scam when he said, “I want you all to know that I had no ill intent promoting any crypto altcoins. I honestly & naively thought we all had a chance to win which just isn’t the case.” But this statement seems to be false as he has repeatedly dumped coins he shilled right after their launches.

In other FaZe Crypto news, co-owner FaZe Banks was called out by the CEO of BankSocial, John Wingate, for pumping and dumping his coin. 

Wingate claims that Banks was paid to be an ambassador and post promotional tweets about the BankSocial coin. After Banks’ promotion, the coin quickly fell, and Wingate believes that Banks had something to do with the fall of the token. Banks never completed the rest of his obligations for the coin, citing a part of his contract that says if the token were to tank, he would not have to post more promotions.

<blockquote class="twitter-tweet"><p lang="und" dir="ltr"><a href="https://twitter.com/coffeebreak_YT?ref_src=twsrc%5Etfw">@coffeebreak_YT</a> <a href="https://t.co/efh3Ni91Sx">pic.twitter.com/efh3Ni91Sx</a></p>&mdash; FaZe Banks (@Banks) <a href="https://twitter.com/Banks/status/1408889714204045314?ref_src=twsrc%5Etfw">June 26, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

The thing that has most fans upset with Banks is in his original tweets; he never disclosed his relationship with the project.

We are finally uncovering the dirty business of shillings by influencers. This is just one of the countless examples of influencers being a part of a pump and dump. Make sure to do your research with every token you buy into and don’t ape into something because the WOLF OF NO STREETS tells you to.

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