Craig Grant, a prominent BitConnect investor uploaded a YouTube video a few hours ago, in which he confirms an SEC investigation into the company is underway.

At the 1:26 mark on the video, he stars to talk about his companion Trevon James.

“Trevon (James) … says that the SEC subpoenaed him like a month ago for all his bitcoin addresses. He sent them everything. Then they called him like a week ago to say come talk to them in September. He was supposed to talk to them in August but they postponed it till September.”

Notably, SEC wouldn’t be able to issue a subpoena unless they’ve filed a complaint. There is the possibility of pre-litigation discovery but then we’re pushing the boundaries of my own legal knowledge.

The video was aimed to give empathize with BitConnect investors. The rise and fall of BitConnect was a learning experience but it was fun and made crypto exciting at the time, now it's all doom and gloom. All that can be done right now is to stake the coins and hold them for long terms.

We can't be sure if the SEC themselves have started an investigation on BitConnect or was the interrogation of Trevon James just a part of FBI’s investigation launched back in March. Nothing is showing up on Pacer, meaning if the SEC has filed a lawsuit against BitConnect and top investors, it’s still under seal. Even the current status of the FBI’s BitConnect investigation is unknown.

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