Is Faze Banks Still Rich? Fact-Checking His Wealth After the Mlg Coin Collapse
By Marcus Vance
The turning point for Bengtson’s modern financial standing arrived in mid-2025 with the promotion of the MLG token, a Solana-based cryptocurrency branded around retro competitive gaming nostalgia. Within hours of launch, the coin saw its market capitalization surge past tens of millions of dollars before shedding over 90% of its value in a single afternoon. Retail traders lost life savings, and accusations of an orchestrated pump-and-dump flooded social platforms.
Rather than stabilizing the crisis, Bengtson exacerbated it. Leaked private messages surfaced showing him coordinating with associates and pointing fingers at streaming giant Adin Ross, claiming Ross had engineered the token launch mechanics and orchestrated liquidity withdrawals. The reaction was immediate. Sheep Esports, Esports Insider, and Disruption Banking all reported that internal pressures from parent company GameSquare made his position impossible. On July 29, 2025, Bengtson stepped down as CEO. While he avoided formal legal indictments in the immediate aftermath, the reputational firestorm froze several pending six-figure brand partnerships and triggered intense scrutiny from decentralized exchange monitors tracking wallet clusters tied to the launch.
| Era & Career Phase | Core Income Channels | Estimated Liquid & Paper Net Worth |
|---|---|---|
| Peak Clout Era (2017, 2020) | YouTube AdSense, FaZe apparel splits, major consumer brand sponsorships | $12M, $16M (Liquid-heavy) |
| The SPAC Listing Boom (2021, 2022) | Paper equity in NASDAQ: FAZE, executive stipends, early crypto holdings | $25M, $35M (Paper peak) |
| GameSquare Acquisition (2023, 2024) | GameSquare stock swap, restored executive salary, creator dividends | $14M, $18M (Moderately diversified) |
| Post-Resignation Reality (2025, 2026) | Passive GameSquare shares, real estate holdings, residual IP kickbacks | $8M, $12M (Contracted) |
Marcus Vance is a cybersecurity auditor and technology writer dedicated to educating the public about online safety, data privacy regulations, enterprise security, and emerging cyber threats.
