Twitch and Kick streamer Felix “xQc” has sparked a heated discussion about cryptocurrency after criticizing FaZe Clan CEO Richard “FaZe Banks” for promoting a crypto meme coin. The controversy began on January 7, 2025, when FaZe Banks posted on his X (formerly Twitter) Community, BANK$ INTERN$, urging his followers to invest in a new token called MLG.
In his post, Banks claimed that investing in crypto could offer a once-in-a-lifetime opportunity to achieve “generational wealth.” He wrote:
“Whether it’s this or just simply buying BTC, get yourselves involved in Crypto this year. You won’t ever have a better chance in your lifetime to acquire generational wealth. Please, stop procrastinating and just get yourselves involved one way or another.”
The post quickly caught the attention of xQc, who voiced his concerns during a Twitch livestream on the same day. Known for his candid takes, xQc did not hold back when addressing the promotion of cryptocurrencies. He argued that many crypto ventures, especially meme coins, are inherently exploitative:
“Okay. Crypto, cool! I’ve got to be honest with you… listen, when it comes to most crypto, aren’t you just making other people’s money? Like, isn’t it just like a circle j
To further illustrate his point, xQc compared crypto promotions to a “c*m-swap,” suggesting that those endorsing such projects are merely enriching themselves at the expense of others. Using a vivid analogy, he explained:
“Telling people to buy crypto is like telling people to go put their juice in because you know you’ll do better than them and then yoink (slang for stealing) their money. To increase the amount of juice in the pool, then you get more in your pocket.”
Not xQc’s First Crypto Critique
This isn’t the first time xQc has spoken out against cryptocurrency schemes. In December 2024, he weighed in on internet personality Haliey Welch, also known as the “Hawk Tuah girl,” who faced backlash for allegedly orchestrating a pump-and-dump scheme involving a meme coin.
At the time, xQc labeled Welch’s project a “fraud,” explaining:
“Chat, meme coin is, ‘It’s a joke for me, it’s a loss for you,’ is what it means. It’s a meme coin because the creators find it funny because they’re the ones that gain off it, right? But for everybody else, it’s just a f**king… it’s just a fraud.”
With xQc calling out yet another crypto promotion, it’s clear that the streamer is taking a firm stance against what he sees as a growing trend of exploitation within the digital currency space. Meanwhile, FaZe Banks has yet to respond to the criticism.