Other FaZe members, however, were less obvious in their actions, selling just some of their tokens and keeping the rest. In the past, Kay also reportedly stuck to this scheme when he was promoting other crypto tokens and sold his entire caches-which he was given during pre-sale periods-in an instant. It is not entirely clear why Kay was outright fired from FaZe Clan while the other three just got suspended.Īccording to investigative YouTuber Coffeezilla, Kay dumped all of his KIDS tokens almost immediately after the trading started, implying that this was his plan from the get-go. Some of them have reportedly deleted the corresponding Twitter posts-including those promoting other crypto projects-after the KIDS dump.
Not kidding aroundĪpart from FaZe Clan members, KIDS was heavily promoted by several popular “influencers” such as Ricegum and Sommer Ray across various social media.
At press time, KIDS is trading at around $0.0013. However, a massive sell-off soon followed, collapsing KIDS’ price to about $0.0011. Shortly after the trading started, the token reached its all-time high of roughly $0.0044 on June 10, according to crypto metrics platform CoinMarketCap. Initially, the token was touted as a charity-focused cryptocurrency based on the Binance Smart Chain blockchain and designed to “to give each kid chance for a better life.”Īccording to the project’s website, the token is “unruggable” (because “liquidity is locked in for 1 YEAR”) and protected from the so-called “pump & dump” schemes “by limiting the transaction balance at 0.5% per Transaction.” Unsurprisingly, KIDS turned out to be anything but. The trading of KIDS started in early June. “The trust and respect of our fans has been, and will always be, our number one priority.”Ī statement from FaZe Clan. FaZe Clan had absolutely no involvement with our members’ activity in the cryptocurrency space, and we strongly condemn their recent behaviour,” FaZe Clan tweeted, adding, “We have made the decision to remove Kay from FaZe Clan, and have suspended Jarvis, Nikan, and Teeqo until further notice.
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FaZe Clan, a Los Angeles-based professional electronic sports (esports) organization, today announced that it has fired its member FaZe Kay as well as suspended three more players-Jarvis, Nikan, and Teeqo-who were involved in promoting cryptocurrency token Save the Kids (KIDS).
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