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Christine Lagarde: My Son Lost in Crypto! ECB President Christine Lagarde had been critical of cryptocurrencies for a long time, considering them speculative, worthless, and often used by criminals for illegal activities. During an event with students in Frankfurt, Christine Lagarde revealed that her son disregarded her warnings about cryptocurrency investments and lost almost all of his investment.
“Even though the amount invested was not very large, he lost about 60% of it,” said Lagarde. Lagarde, who has two sons in their thirties, did not specify which son she was talking about, but she later mentioned that she spoke with her son and he agreed she was right.
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ECB had called for global regulation to protect consumers at risk in the cryptocurrency sector and close loopholes allowing criminals to launder money.
On the other hand, ECB officials last month launched the “preparation phase” for the digital euro but announced that they would need two more years for the market version.
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