
seen from Germany
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seen from United States

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I don’t think Aoyama is the traitor.
I mean, yes, I’m a tad biased because I love the kid, however I have reasons.
I just can’t see it being any of the students to be perfectly honest. As much as the Hagakure/Kaminari/Uraraka and now Aoyama theories are fun, and yes there’s been some weird actions on some of their parts (Hagakure and Aoyama both during the USJ incident for example) things just don’t stack up.
Just for a start, if it was one of the students of Class 1A, there is no way the villains would have been so misinformed about the student’s Quirks. These kids are all very well versed on each other’s Quirks at this point, they’ve all trained together, helped each other, battled each other, worked alongside each other.
That is a whole wealth of knowledge that could have stacked things very favourably for the villains, but they had none of that knowledge.
Horikoshi has pulled moves like this before. Giving us a dramatic ‘reveal’ that then turned out to be no such thing. It’s a red herring again, it’s going to be something else entirely. Horikoshi seems to be fond of pulling this particular move, and more power to him, he’ll do something similar in a future chapter and it’ll be real and it’ll shock the hell out of all of us. But I think it’s too soon for that and this is the wrong time for it.
I find some other theories far more plausible, and I shall present them here. These are actually my own theories.
I'm fond of the reveal we had in the provisional license exam arc that Aoyama is deeply self-critical and worried about his lack of ability or growth compared to the rest of the class - and I put forth the idea that he wants Midoriya's attention both because he's jealous and because he's aware that Midoriya is growing at an exceptional rate and he wants in on his success, he wants to know how he's doing it, what his secrets are.
As a corollary of the above, Midoriya is well known in the class at this point for analysing Quirks, taking extensive notes and figuring out ways for the Quirks to be used or defeated, and maybe Aoyama wants that information about himself, he wants Midoriya to help him. He wants to read Midoriya’s analysis of his Quirk so he can learn and grow and catch up with the rest of the class.
And of course, there's also the 'guardian angel' possibility, that he knows something’s going on and is taking it upon himself to guard Midoriya, but is kinda... weird about it. Kid’s weird, I wouldn’t put it past him to think stalking is an acceptable method of protection.
So there you have it, my theories and thoughts on this Aoyama thing.
And hey! I wanted more on Aoyama! And I’m getting it, so I’m all sorts of happy :D
Couple more years!!!! NO YOU DON’T, mister :-(
...........also Ominous Gobi is up to no good.