The file
FaZe Clan logo
Logo: FaZe Clan,Public domain, via Wikimedia Commons. A trademark of its owner.
company

FaZe Clan

Esports organization based in Los Angeles, California, USA

Entries
13
On the record
3
Stories
2
Latest entry
Jul 28, 2025

The record

Compiled by the MrScandal desk from the documents below ยท Desk editor Gustavs ฤ’rkลกฤทis-Kreicbergs ยท Nov 9, 2026

FaZe Clan is a gaming and esports organization whose record beyond the Tfue lawsuit and the stock collapse runs through member discipline, public-company filings and a takeover. In July 2021 it permanently removed one member and suspended three others over their alleged promotion of the Save the Kids crypto token, saying it strongly condemned their behavior; FaZe Banks denied any involvement and pointed to his public wallet records.

As FaZe Holdings Inc. it traded on Nasdaq from July 2022. By January 2023 its shares were at 75 cents against a high of $24.69 the previous August, and in February 2023 it reportedly cut about 20% of its staff, with chief executive Lee Trink citing a re-focus and economic uncertainty. On October 19, 2023, it signed a merger agreement with GameSquare Holdings.

GameSquare completed the merger on March 7, 2024, converting each FaZe share into 0.13091 of a GameSquare share, and two former FaZe directors joined its board. In July 2025 Banks stepped down as FaZe's chief executive amid accusations over the failed $MLG meme coin he had promoted. He said he had never scammed anyone, and Adin Ross, whom Banks blamed for the collapse, denied wrongdoing.

Roles and honours on the record

  • 2022-2024 Listed on Nasdaq as FaZe Holdings Inc. after a SPAC merger source
  • as of 2024 Subsidiary of GameSquare Holdings, Inc. after a merger completed March 7, 2024 source

Every entry, newest first

Last entry Sep 2023
  1. Reported

    FaZe Clan terminated CEO Lee Trink effective immediately, Esports Insider reported. FaZe Clan stock fell below $1 six months after a $725M debut

  2. Filed

    Nasdaq issued FaZe Clan a delisting notice, giving it 180 days to raise its share price above $1, Hypebeast reported. FaZe Clan stock fell below $1 six months after a $725M debut

  3. Reported

    FaZe Clan laid off 20% of its staff amid financial uncertainty, Esports.net reported. FaZe Clan stock fell below $1 six months after a $725M debut

  4. Reported

    FaZe Clan's stock fell below $1 a share for the first time, Kotaku reported. FaZe Clan stock fell below $1 six months after a $725M debut

  5. Ruled

    SEC declared effective FaZe Clan's SPAC merger registration, clearing the way to its Nasdaq debut. FaZe Clan stock fell below $1 six months after a $725M debut

  6. Filed

    FaZe Clan sued Tenney in New York, accusing him of disparaging the company and trying to form a rival esports group, The Verge reported. Tfue sued FaZe Clan, says it took up to 80% of his brand pay

  7. Reported

    FaZe Clan said on Twitter it had collected $60,000 from Tenney's branded deals and offered him a contract with zero percent to FaZe Clan. Tfue sued FaZe Clan, says it took up to 80% of his brand pay

Stories in this file

Gaming desk with an orange RGB-lit PC tower, monitor and keyboard: FILEDInfluencer ยท 7d ago

๐ŸŽฎ Tfue sued FaZe Clan, says it took up to 80% of his brand pay

FaZe said it collected $60,000 from those deals and offered him all the money, which he rejected. How either suit ended is unknown. ๐Ÿ—ฃ๏ธ

Two game controllers glowing in a dark room: SUB-$1Influencer ยท 7d ago

๐Ÿ“‰ FaZe Clan stock fell below $1 six months after a $725M debut

Pitched near a $1B valuation, priced at $725M, then under $1 a share within six months: a Nasdaq delisting notice and a fired CEO. ๐Ÿ“Œ

The record, entry by entry

  1. 2021-07-02 Reported FaZe Clan permanently removed member Kay and suspended Jarvis, Nikan and Teeqo over their alleged promotion of the Save the Kids token, saying it strongly condemned their behavior. FaZe Banks denied involvement, and Kay apologized, saying he had no ill intent. GameRevolution report
  2. 2023-01-27 Reported FaZe Holdings shares closed at 75 cents on January 26, down from a high of $24.69 on August 30, 2022, putting the company at risk of a Nasdaq deficiency notice, SportsPro reported. SportsPro report
  3. 2023-02-17 Reported FaZe reportedly cut about 20% of its employees. Chief executive Lee Trink said a re-focus and uncertainty in the economy had led to reducing the employee base. Dexerto report
  4. 2023-10-19 Official FaZe Holdings signed a merger agreement with GameSquare Holdings, amended on December 19, 2023. GameSquare Holdings, Form 8-K filed with the SEC
  5. 2024-03-07 Official GameSquare completed its merger with FaZe Holdings, converting each FaZe common share into 0.13091 of a GameSquare share; former FaZe directors Paul Hamilton and Nick Lewin joined GameSquare's board. GameSquare Holdings, Form 8-K filed with the SEC
  6. 2025-07-28 Reported Banks stepped down as FaZe Clan's chief executive amid accusations over the $MLG meme coin he and other FaZe members promoted in early 2025. He said he had never scammed anyone. Complex report

Documents

Sources behind this file

  1. Esports Insider report: FaZe Clan part ways with CEO Lee Trink ยท Report, Sep 11, 2023
  2. Hypebeast report: Nasdaq Issues FaZe Clan Notice of Delisting ยท Report, Mar 27, 2023
  3. Esports.net report: FaZe Clan Lays Off 20% of Staff ยท Report, Feb 17, 2023
  4. Google Finance (archived Feb 16, 2023): FaZe Holdings Inc (FAZE) price $0.76 ยท Public record, Feb 16, 2023
  5. Kotaku report: Top Gaming Influencer Group FaZe Clan Is Now A Penny Stock ยท Report, Jan 31, 2023
  6. The Verge report: Faze Clan goes public in $725 million SPAC deal ยท Report, Jul 20, 2022
  7. GamesIndustry.biz report: Faze Clan goes public with $1bn valuation ยท Report, Oct 25, 2021
  8. The Verge on FaZe Clan's countersuit against Tenney ยท Report, Aug 1, 2019
  9. The Hollywood Reporter on Tenney's lawsuit and FaZe Clan's statement ยท Report, May 20, 2019

Connected files

  • Turner Tenney ยท American streamer and esports player (born 1998) ยท 1 shared story