Billionaire Heiress Taylor Thomson Lost $80 Million in Crypto Trades Run by Former Best Friend

Taylor Thomson, the only daughter of Canada’s richest family and an heiress to the Thomson Reuters media fortune, lost over $80 million through cryptocurrency investments managed by her former friend Ashley Richardson.

According to a report published by The Wall Street Journal, the pair had been close for over a decade, building a personal relationship that included travel, holidays, and frequent visits between homes.

Thomson Reuters Heiress Faces $80 Million Loss

In 2021, their friendship shifted when Richardson began assisting Thomson with crypto purchases. Initially introduced to a token called Persistence (XPRT) by a psychic, Richardson encouraged Thomson to invest. The heiress ultimately placed more than $40 million into the asset, later expanding her holdings across at least a dozen cryptocurrencies.

Richardson says she spent up to 20 hours a day managing the digital portfolio and executing trades. “Everything I did was based on her instructions, as part of her effort to minimize losses,” Richardson said.

The friendship between heiress Taylor Thomson and Ashley Richardson has exploded into an epic battle that has landed the pair in court.

What went so wrong? 🔗: https://t.co/trJuUDKPet pic.twitter.com/vnlgcYrAbx

— The Wall Street Journal (@WSJ) August 25, 2025

She stored hardware wallets with Thomson’s funds in her home, at times in drawers and other unsecured locations.

Thomson disputes that she approved many of the transactions. According to a forensic investigation by consulting firm Guidepost Solutions, hired by Thomson, more than 450,000 trades were made with her funds over several months.

Many were described as highly risky and not pre-authorized. Guidepost alleges Thomson’s total losses exceeded $80 million.

Taylor Thomson Files Lawsuit

The fallout led to a legal dispute. In 2023, Thomson filed a lawsuit against Richardson and Persistence, seeking at least $25 million in damages. The complaint accused Richardson of misleading Thomson about the coin’s potential and failing to disclose a $783,702 XPRT “finder’s fee” she allegedly received.

Richardson has denied wrongdoing and claims the investment decisions were made jointly. “There was never a formal contract between us—just a clear oral understanding, reaffirmed often, about what she wanted me to do on her behalf,” she said.

The dispute has since escalated to include counterclaims of defamation, with Richardson representing herself in court. The two have not spoken since 2022. Thomson’s lawyers continue to pursue asset recovery, while Richardson now drives for Uber and has applied for public assistance.
This case shows how personal relationships can override basic controls when handling digital assets. Without written agreements or third-party oversight, informal crypto deals risk turning into high-stakes legal battles that blur financial and emotional boundaries.

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