Psychic Advice Triggers $80M Crypto Loss and Ongoing Lawsuit

Published: 2025-08-26 04:07:59 |

Taylor Thomson, heir to Thomson-Reuters, claims a psychic tip led to an $80M crypto loss. Friend and portfolio manager Ashley Richardson oversaw $140M in digital assets across multiple wallets. Between 2021 and mid-2022, Richardson made over 450,000 high-risk trades without written consent. A 2022 market downturn exposed losses surpassing $80M and unauthorized trades. In 2023, Thomson sued Richardson and the Persistence (XPRT) network, where she had invested $40M. XPRT peaked at $16.59 in May 2021 and now trades near $0.04. Thomson seeks $25M in damages, alleging fraud, hidden fees and undisclosed kickbacks. Richardson denies personal gain and countersued Thomson for $10M in defamation. Thomson settled with Persistence but litigation with Richardson continues. This crypto loss underscores the dangers of informal advice and opaque portfolio management. For traders, it highlights the need for clear contracts, authorized trading and thorough due diligence to manage crypto portfolio risk.

Bearish

The lawsuit and past $80M crypto loss highlight significant risk around XPRT and third-party portfolio management. In the short term, ongoing litigation may weigh on XPRT sentiment, prompting sell-off by cautious traders. Legal uncertainty and reputational damage can deter new investment. Over the long term, resolution or favorable outcome could restore confidence. However, the case underscores the need for transparency and due diligence, potentially slowing adoption and trading volumes for XPRT until legal clarity is achieved.