Friendship, Foresight, and a Fortune Lost in Crypto's Volatile Gamble

Taylor Thomson, heiress to the Thomson Reuters fortune, has reportedly lost over $80 million in cryptocurrency investments following the guidance of a psychic and her former close friend, Ashley Richardson. The investment journey began in 2021 when the pair consulted with a celebrity psychic who recommended an investment in the Persistence (XPRT) token. Richardson, who claimed to have spent up to 20 hours a day managing the digital portfolio, encouraged Thomson to invest more than $40 million in the token, later expanding her holdings across at least a dozen cryptocurrencies [1].

The investment strategy, however, quickly turned volatile. According to a forensic investigation by consulting firm Guidepost Solutions, Richardson executed over 450,000 trades using Thomson’s funds without clear authorization or custody safeguards. Many of these trades were described as highly risky, contributing to a massive loss in value for Thomson [1]. The downturn in the crypto market in mid-2022 exacerbated the situation, with the value of the XPRT token plummeting from an all-time high of $16.59 in May 2021 to $0.037 at the time of the report [2].

In response to the significant financial losses, Thomson filed a lawsuit in 2023 against Richardson and Persistence, seeking at least $25 million in damages. The lawsuit accused Richardson of misleading her about the potential of the coin and failing to disclose a “finder’s fee” she allegedly received. Richardson denied the allegations and claimed that the investment decisions were made jointly, emphasizing that there was no formal contract between them [1].

The legal dispute has since escalated to include counterclaims of defamation. Richardson, who now drives for Uber and has applied for public assistance, filed a $10 million countersuit, alleging that Thomson defamed her by accusing her of fraud. The two have not spoken since 2022, and the case continues to unfold in court [3]. This case highlights the risks associated with informal crypto deals, where personal relationships can override basic controls, leading to high-stakes legal battles that blur financial and emotional boundaries [1].

The incident underscores the broader challenges in the crypto market, particularly for high-net-worth individuals who may place significant trust in informal investment advice. The lack of written agreements and third-party oversight in managing digital assets can lead to disputes over unauthorized trades and investment outcomes. As the legal battle continues, it serves as a cautionary tale for investors to carefully consider the risks and ensure proper safeguards when engaging in crypto investments [2].

Source: [1] Billionaire Heiress Taylor Thomson Lost $80 Million in Crypto ... (https://finance.yahoo.com/news/billionaire-heiress-taylor-thomson-lost-181042364.html) [2] Psychic's advice cost billionaire heiress $80M in crypto (https://cointelegraph.com/news/billionaire-heiress-80m-loss-psychic-crypto-wsj) [3] How Thomson heiress dumped and 'destroyed' her best ... (https://nypost.com/2025/08/24/us-news/how-thomson-heiress-dumped-and-destroyed-her-best-friend-after-pumping-80m-into-crypto-deal-over-psychics-advice-report/)