According to The Wall Street Journal, Thomson Reuters heiress Taylor Thomson has filed a lawsuit against her former best friend Ashley Richardson after losing more than $80 million in cryptocurrency investments.
The report states that Richardson actively managed Thomson’s crypto portfolio during the boom of 2021, overseeing more than $140 million spread across multiple wallets. However, when the market collapsed in mid-2022, massive losses followed: a review by consulting firm Guidepost Solutions estimated losses at over $80 million.
The lawsuit alleges that Richardson executed more than 450,000 crypto transactions without proper authorization, relying on aggressive and highly risky trading strategies. “She was acting on my behalf,” Richardson counters.
Ashley Richardson has denied the accusations, claiming she acted strictly under Thomson’s instructions and that the large number of trades was necessary to maintain liquidity in thinly traded tokens. She emphasized that no written contract existed between them — only a verbal agreement — and insisted she never personally profited from managing her friend’s crypto holdings.
“Everything I did was at her request and aimed at minimizing losses,” Richardson told the WSJ.
The scandal has also drawn attention to blockchain project Persistence (XPRT), into which Taylor Thomson invested $40 million. The XPRT token peaked in May 2021 at $16.59 but has since collapsed by nearly 99%, now trading at just $0.037, according to CoinGecko.
In response to the allegations, Richardson filed a countersuit for $10 million, accusing Thomson of defamation — specifically, for allegedly calling her a fraud in conversations with colleagues and business partners. The legal battle between Thomson and Richardson is ongoing.
