God told them to sell crypto. Their investors lost everything.

Eli and Kaitlyn Regalado founded a cryptocurrency venture, INDXcoin, asserting that their decisions were guided by divine communication. Eli Regalado described these experiences as receiving "a thought that is not my thought," with messages arriving daily through prayer, dreams, or from strangers. These purported divine directives influenced significant life choices for the couple, including their marriage, the purchase of a home, and the operational details of Eli's prior marketing firm in Colorado. The Regalados also claim God instructed Eli to begin preaching, both in their home and online, indicating a pattern of obedience to what they interpreted as heavenly commands.

The pivotal moment for their cryptocurrency involvement occurred in October 2021. Eli Regalado reported hearing God's instruction to "Take this to my people for a wealth transfer" after receiving a gift of holdings in an obscure digital coin from his sister and her husband. This led the Regalados to believe they were divinely tasked with selling cryptocurrency to fellow Christians. Despite having no prior background or expertise in the cryptocurrency sector, the couple subsequently felt compelled by divine guidance to launch their own coin. They proceeded to create INDXcoin, a new digital asset, and embarked on a journey of learning about the complex world of cryptocurrencies as they developed their product. Their venture was presented to investors as a divinely ordained mission aimed at facilitating wealth transfer specifically within the Christian community.

However, the INDXcoin project ultimately failed, leading to substantial financial losses for its investors. The Regalados' claims of divine instruction became a central point of scrutiny during court proceedings, where their business practices and the devastating outcome for those who invested in INDXcoin were examined. The narrative starkly contrasts the couple's professed spiritual motivations with the severe financial repercussions experienced by their investors. This investigative report was produced in partnership with Type Investigations and received support from the Fund for Investigative Journalism, highlighting the journey from the Regalados' interpretation of divine commands to the collapse of their cryptocurrency enterprise and the resulting financial ruin for their investors.