Adin Ross and FaZe Clan’s co-owner Ricky Banks have been in talks about the possibility of FaZe 2.0.
FaZe Clan has been in a bit of inner turmoil the last few months after various members of the org have come forward with
allegations against the esports company. This includes Jakob “Teeqo” Swaerden accusing FaZe Clan of not “giving two f—s” about him. Meanwhile, FaZe Clan has considered
going private
after just nine months on the Nasdaq exchange as financial problems continue to get worse.
Through it all, FaZe Banks hasn’t said all too much about the situation. Until now.
FaZe Banks discusses new project in the works
Adin Ross is known for having a lot of controversial people on his stream, including
almost interviewing Kanye West. On March 24, Ross sat down with Banks to discuss what’s been going down at FaZe and offer him a solution.
“Listen. Me and you, we make FaZe 2.0 and f—ing make this s— where it was before,” Ross said.
This led FaZe Banks to admit that he’s currently working on some type of secret project. He wouldn’t give any details, however, only stating that “daddy’s working on something big.”
Ross made it clear that he felt corporations were behind the downfall of FaZe Clan, saying that they had to ‘bring back the kids’ minds.” But it’s unclear how starting another esports organization would really help at this stage.
https://www.youtube.com/watch?v=S6Bc8VY3vuI
After less than a year on the Nasdaq exchange, FaZe Clan may be restructuring and going private. That’s because the organization received a notice from Nasdaq that said their common stock “failed to comply with the $1 million bid price” that’s required to remain on the Nasdaq Capital Market.
This has been going on for 30 consecutive business days. Now, FaZe has to recover its stock price of $1 for a minimum of 10 days before September 2023 or they are delisted. Right now, their stock price is at well under 50 cents.
For now, FaZe Clan has enough money to function until the end of 2023. It’s unclear what will happen next for the controversial org.
Olivia Richman
About Olivia Richman
Olivia has worked in media ever since graduating from college, with her coverage ranging from traditional newspaper reporting to digital coverage of all things gaming, online betting, and nerd culture. She has traveled around the world pursuing that coverage, from the far coasts of the United States to the busy downtown core of Tokyo, Japan. Olivia’s favorite games include Overwatch and Super Smash Smash Bros, and she has been published at Esports Illustrated, Inven Global, EsportsInsider, Upcomer, and elsewhere.
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