Her Husband Borrowed $250K Against The Family Home To Buy Crypto. She Says He Lost It All After Accidentally Pressing ‘Sell Short’
- Finance
ThePostMaster- 0
- 8 minutes read
A family’s finances were thrown into chaos after a husband secretly borrowed $250,000 against the family home and put it into cryptocurrency, all without his wife’s knowledge.
When she found out, she told him to sell immediately. He promised the money would be back in their bank account within days. Instead, several days later, the money was still missing.
The issue surfaced during a recent call to “The Ramsey Show,” where the wife, identified as Kate, explained how she discovered what had happened.
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When Kate pressed him for answers, her husband admitted he had not sold the crypto at all. Instead, he said he had “accidentally pressed the sell short button instead of the sell button,” which caused the position to be liquidated.
The hosts did not mince words about how serious that explanation was.
“Selling short means he borrowed an asset he didn’t own and sold it,” co-host George Kamel said. “That’s just gambling, especially in the crypto world. It was already speculation, so this is double gambling at this point on top of the infidelity that he created by doing this behind your back.”
Kate asked the question many listeners were likely thinking: “Is there any way to get that money back, or is it just gone for good?”
The answer was unclear. Because the trade involved selling short, the hosts said the final outcome depends on the platform, whether the position is fully closed, and whether additional obligations still exist. But they made one thing clear: the explanation raised red flags.
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“I don’t want to call him a liar,” co-host Ken Coleman said, “but my BS meter is just singing right now.” Another added that it was hard to believe someone would casually hit the wrong button on a $250,000 transaction.
“I don’t know what’s worse,” Kamel added, “if he didn’t know what he was doing or if he knew what he was doing.”
The conversation shifted away from crypto and toward trust.
The hosts said it came down to broken trust, as Kate’s husband went behind her back, ignored her request to sell, and put the family home on the line.
Kate revealed that her husband earns about $300,000 a year and that the family owns six properties, including four rentals, a vacation home, and their primary residence, all carrying significant debt.
