Less than two months out from launch, Sports Trading BTC has collapsed.

Owner James Ward has announced a Global Credits Network reboot.

Sports Trading BTC
was a simple enough Ponzi scheme.

Investors invested bitcoin on the promise of 0.25% to 2% daily returns, which Ward claimed were generated via sports trading.

Had that been the case, Sports Trading BTC wouldn’t have collapsed. Yet here we are.

In a
December 1st webinar
titled “The Future of STB”, Ward (right) attempted to explain why Sports Trading BTC collapsed.

[4:33] A lot of people are like, “Why are you changing the company so… you just launched on October 1st. You know, why didn’t you make any of these decisions beforehand?”

Well, the truth of it is this … we had no idea that we were gonna get tossed into every single category that every other company that accepts crypto falls in.

[5:44] With the new branding, with the new company, with the new direction, the one thing that we wanted to do is separate ourselves from any of that stuff that is out there.

Although Ward doesn’t address securities head on until later in the webinar, the “stuff” he’s referring to is securities fraud.

It is currently not illegal to offer a passive trading investment opportunity in the US, provided you do it legally by registering with the SEC.

A big part of that is having to disclose audited accounting that proves to the SEC, investors and the public that an MLM company is actually doing what it claims it is.

In the case of Sports Trading BTC, that would be paying returns with actual trading revenue.

Instead of proving that though, Ward opted to pull the plug. Keeping in mind recycling newly invested funds constitutes a Ponzi scheme, make of that what you will.

[7:12] If you allow someone to earn a commission of any type without having any activity whatsoever, it classifies you as a security.

We’re not trying to be a security. We’re not a security, we’re not an investment.

If I can just interject here,
Sports Trading BTC’s passive investment scheme was very much a security.

Not continuing to commit securities fraud however, is a large part of why Sports Trading BTC collapsed.

[7:24] So from our perspective, we thought that we … needed to make a change as soon as possible.

Now that change that we made, it happened almost overnight. It effected many people out there and we didn’t communicate it as properly as we should of.

That change? Scrapping passive returns that Sports Trading BTC was 
literally
built around.

[8:35] Since when did network marketing become that you just sit there and earn?

Oh I dunno… probably around the same time people like James Ward started marketing opportunities that promised
exactly that?

[8:42] I don’t ever remember that until just a couple of years ago when this started happening and people thought that they could just earn for nothing.

I’m not bashing on any companies out there, I’m not bashing on you personally if that’s your philosophy; I’m just simply

🤖 Quick Answer

What was Sports Trading BTC?
Sports Trading BTC was a cryptocurrency investment scheme launched in October that promised investors daily returns between 0.25% and 2% through sports trading activities. The platform collapsed within two months of its launch, revealing characteristics of a Ponzi scheme structure.

Why did Sports Trading BTC collapse?
Sports Trading BTC collapsed due to unsustainable return promises and inadequate operational planning. Owner James Ward acknowledged in a December webinar that critical business decisions had not been made before the October launch, contributing to the platform's failure.

What happened after the collapse?
Following the collapse, owner James Ward announced a Global Credits Network reboot initiative. This represented an attempt to reorganize and restructure the failed investment platform under a new operational framework and branding strategy.

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