How Adin Ross & FaZe Banks Mastered the Pump-and-Dump: The MLG Crypto Saga

When influencers and crypto collide, someone always gets burned.

Streamer Adin Ross and esports giant FaZe Clan pulled off a textbook pump-and-dump with MLG tokens—leaving bagholders fuming and regulators circling. Here’s how they did it.

The Setup: Hype Machine in Overdrive

Ross’s streams became infomercials for MLG, while FaZe members ‘accidentally’ flaunted six-figure positions. The token chart went vertical—until the exits got crowded.

The Rug Pull: ‘Oops, We Forgot to Hodl’

Liquidity vanished faster than a FaZe rookie’s signing bonus. The token bled out 90% in 48 hours as the ‘team wallets’ cashed out—all perfectly legal, somehow.

Another day, another crypto grift. At least this one came with free Twitch entertainment.

Despite the recent spike, MLG remains nearly 92% below its all-time high of $0.162, recorded earlier in January 2025.

What is MLG?

MLG is the ticker symbol for 360noscope420blazeit, a Solana-based meme token launched in April 2024. The name “MLG” is a nod to Major League Gaming and draws inspiration from the early 2010s Call of Duty and competitive gaming culture, often referred to by fans as the “golden era” that the MLG crypto pays homage to.

However, it’s important to note that MLG crypto has no official connection to Major League Gaming or its parent company, Activision. While the token uses similar visuals and themes, these are part of its nostalgic meme appeal, not an authorized brand partnership.

Why did MLG rally?

The latest rally appears to have been driven by a surge in social media HYPE and trading activity, particularly after it was allegedly promoted by high-profile influencers, including FaZe Banks, co-founder of the esports organization FaZe Clan.

Trading volumes spiked across platforms like Raydium and LBank, with the MLG/SOL pair becoming one of the most active on Solana-based decentralized exchanges.

The controversy intensified after Banks and streamer Adin Ross were accused of manipulating the token’s price for profit. Both denied any wrongdoing, though Banks announced he was stepping down as CEO of FaZe Clan, citing emotional burnout and damage to his reputation. 

In a screenshot that has been making rounds on X, Banks was seen accusing Ross:

The backlash contributed to the token’s sharp retracement shortly after peaking.

This isn’t FaZe’s first brush with crypto controversy. In 2021, several FaZe Clan members were involved in promoting the “Save the Kids” token, which quickly collapsed after launch.

FaZe Kay was removed from the organization, while others were suspended, following allegations of insider trading and deceptive marketing. That history has added further skepticism around MLG’s recent pump.

Should you invest in MLG?

At present, MLG remains a highly speculative asset. Its value is not backed by any formal utility, revenue, or product roadmap, but instead depends on community momentum, nostalgia, and influencer-driven hype. While it may offer opportunities for short-term gains, its long-term investment prospects are highly uncertain.

A major concern for prospective investors is the nature of its trading environment. MLG is primarily traded on decentralized and lightly regulated exchanges such as Raydium, LBank, XT.COM, and Meteora.

These platforms tend to have tighter liquidity controls and fewer restrictions, which makes it easier for whales or coordinated groups to manipulate price action without oversight. This increases the token’s volatility and makes it vulnerable to pump-and-dump cycles, particularly during hype-driven rallies.

For traders with a high risk tolerance, MLG may offer exposure to fast-moving price swings and the cultural novelty of meme coin trading. But for cautious or long-term investors, the lack of transparency, high volatility, and history of influencer-linked manipulation should be viewed as serious red flags.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.