Trevon James, a prominent US promoter for the defunct BitConnect cryptocurrency lending platform, continues to assert the scheme was not a Ponzi, despite widespread investor losses. James, who amassed 137,000 subscribers on his YouTube channel promoting BitConnect, now faces significant criticism following the platform's collapse. He rejects claims of responsibility for the millions of dollars in losses reported by his audience, attributing their financial decisions to individual choices rather than his influence.

James maintains he never explicitly instructed viewers to invest, stating he merely showcased his own activities. He argues that BitConnect remains a legitimate cryptocurrency, not a fraudulent investment scheme. In a video titled "My Final BitConnect rant!", James first claimed no one lost money, then conceded that "technically you kinda lost your money." He encourages investors to hold their BitConnect Coins (BCC), predicting their value will rebound if people refrain from selling.

This assertion comes despite BCC having no functional use outside the collapsed BitConnect lending program. Its value plummeted to $5 after the platform ceased operations, briefly peaking at $80 before settling into a range of $25 to $30. James offers no explanation for a potential resurgence in demand for these tokens. He suggests BitConnect will continue "developing," a claim that contradicts the company's disappearance and its owners flooding the market with pre-generated BCC.

James places the blame for BitConnect's downfall on US regulatory action, specifically cease and desist orders, rather than the inherent unsustainability of a Ponzi scheme. He claims that "if it wasn't for that hatin', and people mad cause people making money hand over fist too easily," the lending program would still operate. North Carolina, where James resides in Greensboro, was among the first states to issue such an order on January 9th.

James insists he "didn't do anything wrong," viewing his role as simply vlogging his use of BitConnect and including a referral link. He acknowledges benefiting from a high number of referrals but asserts he believed the activity was legitimate. Victims have reported losses stretching into the tens of thousands, with one individual claiming $30,000.

Despite his stance, James's "My Final BitConnect rant!" video included a referral link for DavorCoin, another ICO lending scheme widely identified as a Ponzi. James also claims to hold approximately 4000 BCC, stating he has no intention of selling them for anything less than $300 per coin.