BitConnect (BCC) Pumps on TradeSatoshi, SEC Calls Influencer Trevon James to Testify



via cryptovest

BitConnect (BCC) is living a second life as a speculative curiosity coin on TradeSatoshi. Recently, the asset doubled in price within hours, a short-term pump initiated on extremely low volumes of around $4,000.

At the same time, the BitConnect X project seems to be frozen, with no indication of the token ever coming on exchanges. The website for the project only states that the ICO period has closed, and there is no information about the size of contributions collected. BitConnect X was a project released just as BitConnect was unraveling, around the time of its exit scam.

The sudden BitConnect pump is negligible compared to the general sideways drift in its prices. BCC has extremely low volumes, and trades in very different prices, between $0.75 and $0.47, depending on the pairing with another crypto coin. BCC grew by up to 167% overnight, to around $0.67 in the BTC market, later dropping to $0.64.

During the latest bout of trading, one of the most infamous influencers, Trevon James, once again presented the coin in a favorable light, this time in a tweet:

James has received a subpoena to testify to the US Securities and Exchange Commission (SEC), for his role as one of the chief influencers for BitConnect.

The BitConnect project saw volunteers and influencers hype the coin on YouTube, reaching a vast audience, and spreading the fame of BitConnect to disproportionate levels. The US SEC became aware of the promotions, and now goes after the influencers to gather more details. James is in no way a part of the BitConnect team, which has remained anonymous even after the exit scam.

At one point, Trevon James held an influential Steemit account with a value above $1 million. Now, the market value of the account is around $100,000. Significant withdrawals from the account, along with a drop in market prices, has seen the value slide significantly, as Trevon James decreased the STEEM Power from around 260,000 to around 107,777 tokens. Many believed he hid his BitConnect haul into Steemit - but now, that wealth has moved. Steemit users and bots have taken care to disconnect James from further rewards and from using his STEEM Power, in effect ousting him from the platform. He has continued posting sporadically, but without the previous influence.

Reportedly, since the middle of 2016 and until the crash of BitConnect, Trevon James used his YouTube channel to send out his referral link, and garner significant revenues from referrals.

BitConnect, along with DavorCoin, shows that in the world of crypto coins, trends and influence can be dangerous. The upcoming testimonial is yet another reminder that the SEC is vigilant about crypto scams causing damage to personal finance.


You know, I actually doubt that he has been subpoenaed. He announced a similar subpoena earlier this year from the State of South Carolina. What happened? NOTHING. NADA. He never testified anywhere in the state.

Now he has announced that the SEC has subpoenaed him. [Quoting loosely] “Oh, I have to go to New York in September” he says. Unfortunately either no one has checked with the legal services to see what his case # / Docket # / is or they are just taking him at face value. Question: What happened the last few hundred times we took him at that level? Answer: He took your money (not mine!) and he laughed all the way to the bank. Recently he’s probably just laughed at the fact that people still listen to him and take him at face value. And recently all he can say is [quoting loosely again] “I’m glad I don’t know anything about who ran Bitconnect”

There are actually processes that the SEC has to go through to get someone to testify. If you are interested in reading about it go to the following web page:

Just from the totally sketchy information he’s provided I come to an early (and admittedly totally uninformed) conclusion that he’s lying again. He’s usually somewhat open about what’s occurring in his life but not in this case. There are investigative steps that the government takes before it subpoenas someone and he has said nothing about whether any have occurred with him. He says nothing about having or paying for a lawyer. My thought is that he just wants to go to New York in September and hope that some people will feel sorry for him and pay for a few of his meals.

There’s also the point that it has only been the past few months that we have known with more clarity that Bitconnect was a security. [Coming from a non-lawyer] Is this some sort of Safe Harbor from SEC prosecution for deeds prior to that date? Dunno. Opinions??

Folks, this guy is a stone cold liar. Don’t believe him for a second. Don’t feel sorry for him for a second. Ignore him (I’ve already blown my own advice here just spending an hour or so writing this missive).


love this @Peter_Rehm. thanks for the context!