FaZe Clan is acquired by esports holding company GameSquare Holdings in a deal valuing Faze at ~$16M, down from a $725M market cap at its 2022 SPAC merger (Alexander Lee/Digiday)

Alexander Lee / Digiday:

FaZe Clan is acquired by esports holding company GameSquare Holdings in a deal valuing Faze at ~$16M, down from a $725M market cap at its 2022 SPAC merger  —  FaZe Clan’s billion-dollar journey has taken an unexpected — but perhaps inevitable — turn.  Burned by controversy and facing …