
TL;DR
Eli and Kaitlyn Regalado launched INDXcoin, a cryptocurrency they claimed was divinely inspired, raising over $3 million from investors. The project collapsed within a year, leading to significant financial losses for those involved.
✦ Why It Matters
Evaluate the legitimacy of cryptocurrency projects before investing, especially those with unconventional claims.
Key Takeaways
Full Summary
Eli Regalado, guided by what he believed was divine instruction, co-founded INDXcoin, a cryptocurrency that attracted over $3 million from more than 500 investors, primarily within evangelical circles. However, the project failed within a year, leading to significant financial losses and questions about potential fraud.
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