Thomson Heiress Loses $80M in Crypto on Psychic Advice

Taylor Thomson, a billionaire heiress from Canada, reportedly lost over $80 million in cryptocurrency investments during the 2021–2022 market cycle, guided by advice from psychics.

Thomson’s story highlights the dangers of crypto investments based on non-professional advice, raising concerns about financial management and triggering legal battles.

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Taylor Thomson’s Crypto Misadventure

Taylor Thomson, heiress to Thomson Reuters fortune, reportedly lost over $80 million in crypto investments during the 2021–2022 market cycle. The losses resulted from advice from celebrity psychics, which led to a series of legal battles.

Key figures involved include Taylor Thomson and Ashley Richardson, her former friend and advisor. Richardson managed around $140 million in assets, guided by New Age advisors, but lacked formal crypto experience, leading to significant financial losses.

“Ms. Richardson has taken her bogus story to the media in an attempt to extract more money from Ms. Thomson,” said a Thomson spokesman.

Financial Impact and Failures

The financial impact was severe, with $40 million directly invested in Persistence’s XPRT token, which collapsed nearly 99%. This represents a significant portion of the hike in speculative investment failures in 2022.

These losses have prompted continued litigation and public fallout. No financial bodies like the SEC or CFTC commented on the situation, reflecting potential gaps in regulatory scrutiny of such investments.

Industry Reactions and Risk Analysis

Crypto KOLs and industry leaders have not issued public statements or reactions, maintaining a neutral stance. Legal and industry outcomes remain uncertain as the market absorbs news of the disputed losses.

The case highlights risks in relying on non-professional financial advice. Historical market collapses like LUNA/UST offer context for the potential need for stronger regulatory frameworks and more substantial due diligence on crypto investments.