ECB Head Admits Her Son Invested in Crypto and Lost Money
European Central Bank President Christine Lagarde has revealed that her son suffered significant losses on his investments in digital assets, despite her repeated warnings.
According to Reuters, Lagarde stated that her son went against her advice, resulting in substantial financial losses.
The extent of the loss was estimated to be around 60%, and in the end, her son admitted his mistake to his mother. Lagarde, who has two sons in their early thirties, did not specify which of them had lost money on crypto investments.
Lagarde has been a vocal critic of digital assets, emphasizing the risks associated with the industry.
She has declared that all cryptocurrencies and stablecoins fall under the definition of speculative products and should not be recognized as a legitimate form of payment.
In May 2022, Lagarde called for stricter regulations in the market, stating that cryptocurrencies hold no value.
