--- title: "Man Wakes Pregnant Wife to Tell Her He Lost $100,000 on Crypto" description: "On the list of terrible things to wake to wake your pregnant wife up with, the news that you've lost $100,000 in crypto is right up there." date: "2022-07-26" modified: "2022-07-26" authors: - name: "Maggie Harrison Dupré" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/mharrison" url: "https://futurism.com/the-byte/man-wakes-pregnant-wife-crypto" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "celsius" - "crypto" - "the digest" - "web3" --- # Man Wakes Pregnant Wife to Tell Her He Lost $100,000 on Crypto ![On the list of terrible things to wake to wake your pregnant wife up with, the news that you've lost $100,000 in crypto is right up there.]() *\Image: Getty Images\* ## Rude Awakening On the long list of terrible things to wake your pregnant wife up with, the news that you've lost $100,000 to the [Celsius bankruptcy]() is certainly up there. Sadly, this is exactly what happened to Celsius user Jack Holcomb, who [explained to *The Wall Street Journal*]() that he'd taken out a home equity loan to invest $100k worth of [alleged stablecoins]() into the now-embattled crypto lending platform. Celsius [wooed its many investors]() with low-risk, high-yield promises, and Holcomb was expecting to make $7,000 per month in returns. But like millions of others who trusted their assets to the platform, the sunken Celsius ship has seemingly taken [over $4.7 billion of user funds]() with it — and for folks like Holcomb and his wife, it's unlikely that they'll get that money back. "My family's not going to starve to death," he told the *WSJ*, explaining that he was able to dip into cash savings to pay back the loan. "But losing $100,000 is never fun." ## Not Joking Led by charismatic cofounder [Alex Mashinksy](), Celsius quickly rose to crypto prominence with its pro-user, anti-bank messaging. The platform was [one of many]() that embraced the [risk-happy language]() of the now-fraught market, while simultaneously insisting that user money would be [safer with them]() than with regulated, institutional banking. And many amateur investors, Holcomb included, bit at the chance to securely dip their toes — or, well, $100k — into the booming industry. But back in June, Celsius suddenly [halted user transactions](), freezing all customer funds. Holcomb, as he recounted to the *WSJ*, shook his wife awake to tell her the news. (As is any pregnant woman's right, she simply asked her husband if he was joking and promptly went back to sleep.) Unfortunately, Holcomb wasn't joking. Web3 investors have a reputation for their [undying belief]() in digital assets. The widespread [crypto crash](), however, has shaken [the faith]() of many forlorn investors — and we can imagine it's particularly painful for those who chose to trust organizations promising stability and security. "I've never had a bank tell me, 'I'm sorry, we’re not allowing you to withdraw your money,'" Dave Jachelski, who invested several thousand dollars into [similarly defunct lender Voyager](), told the *WSJ*. "Sometimes things are too good to be true." **READ MORE:** [*They Thought ‘Crypto Banks’ Were Safe, and Then Came the Crash*]() \[*The Wall Street Journal*\] **More on bad crypto behavior:** [*Coinbase Manager Arrested as He Tries to Flee the Country*]() ## Author At Futurism, I've reported extensively on the rise of AI as a cultural and business force shaping the media industry, and more broadly how those dynamics are changing how we all consume and share information and relate to one another. I'm also fascinated by public health policy and ethics, the role of emerging tech in politics and governance — and the powerful people and forces at those intersections — climate change, and the environment. My investigation on Sports Illustrated's use of AI-generated authors with fictional biographies won a 2024 Mirror Award for "Best Story on Media Coverage of Artificial Intelligence in Journalism and the Media" from Syracuse University's SI Newhouse School, I contributed to Niemen Lab's 2025 Predictions for Journalism series, and I've discussed my work for Futurism during appearances on NPR, CNN, the BBC, the CBC, and more. I grew up in rural Pennsylvania and attended the University of Massachusetts Amherst, where I played Division I field hockey for the Minutewomen as a midfielder. Since then, I've lived in New Orleans, Louisiana and Manhattan, New York. I spend my free time running, reading, perusing archival fashion, and searching for the world’s best negroni. I also have a debonair tuxedo cat, Westley, who's named after "The Princess Bride." ### Author social links [Bluesky]()