Amid the hype, they bought crypto near its peak. Now, they cope with painful losses

For Michelle Milkowski, who lives in Renton, Washington, one thing led to another.

Because her son’s daycare closed in the early days of the pandemic, she had some extra cash. So, like millions of other people, Milkowski downloaded the Robinhood trading app.

Back then, the stock market was at the beginning of what would become a record-setting run, and Milkowski’s new pastime became profitable.