FaZe Clan, an esports organization based in Los Angeles, has fired one of its members and suspended three following allegations they wittingly promoted an alleged crypto scam.
According to a statement from the organization on Thursday, Frazier "Kay" Khattri got the boot, while Jarvis Khattri, Nikan Nadim and Jakob Teeqo have been suspended until further notice.
“FaZe Clan had absolutely no involvement with our members' activity in the cryptocurrency space,” the statement reads. “We strongly condemn their recent behavior. The trust and respect of our fans has been, and will always be, our number one priority.”
Accusations stem from the members' purported promotion of the project "Save The Kids" and its token, where they were reportedly paid to promote the altcoin before "dumping" their investments onto the market.
Coffeezilla alleges through "hard proof" that the project and its token weren't designed to help kids but instead were designed from the "outset" to extract money from influencer's fans.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.