Erin Lichy’s Husband Abe REVEALS the Shocking Truth Behind Bitcoin Drama – They Used to Be Broke!
Abe Lichy is setting the record straight on the Bitcoin drama that fueled tension in his marriage to Real Housewives of New York star Erin Lichy.
On the show, Erin expressed her frustration over Abe making financial decisions without consulting her, a situation that left her feeling betrayed. Now, Abe is opening up on Page Six’s Virtual Reali-Tea podcast about why he sold their Bitcoin and the difficult financial choices behind it.
“So, it was representative of kind of a larger, deeper issue,” Abe explained, addressing the financial pressures that built up after the couple’s handbag company, FRAMEWORK, struggled to succeed. “I’ll tell you guys what it was because it’s not that nefarious. But, it was real.”
The couple, who have been married since 2012, had invested their life savings in FRAMEWORK, with Abe even leaving his prestigious law firm to pursue the business. Unfortunately, the venture didn’t turn a profit, leaving them with significant debt. “We lost all our cash, and it was a very expensive MBA. I learned a lot,” Abe said.
Their financial difficulties came during an already challenging time, with Abe mourning his father’s death from brain cancer and welcoming their second child. “We had no cash, and so we had all the debt from this business, and it was our business, not hers,” Abe clarified. “It was just the aftermath of that.”
Abe admits his decision to sell the Bitcoin without informing Erin was influenced by the pressures to support his growing family while building up his own law firm.
“It took several years to start making real money again, so we had more kids, more bills, and still the debt,” he shared. “And it was just a bunch of small things that, at a certain point, I just stopped telling her about it because I didn’t want to add pressure to her.”
He added, “I didn’t want to take it from our joint checking account, so I took it from the Bitcoin. And I sent it and paid for the debt.” When Erin later found out, Abe said it opened the door to a “liberating” conversation where he could come clean about their finances.
“We were able to have that really honest conversation even though I was in the dog house for a long time.”
The tension over the Bitcoin sale hit “probably two or three months” before they began filming the new season of RHONY making it a fresh wound for the couple.
RHONY airs Tuesdays at 9/8c on Bravo.
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