ECB chief Lagarde says son ignored her, lost 'almost all' crypto

European Central Bank (ECB) president Christine Lagarde told an auditorium on Friday that her son had lost “almost all” of his crypto investments and ignored her warnings.

Speaking to students in Frankfurt, Lagarde said her son “ignored me royally, which is his privilege. And he lost almost all the money that he had invested,” (via Reuters).

Lagarde has been extremely vocal about her anti-crypto stance, repeatedly calling the digital assets worthless. “I have, as you can tell, a very low opinion of cryptos,” she told the students in Germany.

ECB says crypto regulation needed MiCA yesterday — it’ll take years to enact

Read more: ECB calls for stablecoin regulations to protect wider economy

“People are free to invest their money where they want, people are free to speculate as much as they want, [but] people should not be free to participate in criminally sanctioned trade and businesses.”

The ECB chief has two sons, Pierre-Henri Lagarde and Thomas Lagarde, aged 37 and 35 respectively. It’s unclear which son made the unfortunate crypto investments — but according to their mother, “he lost about 60% of it.”

When Lagarde confronted her son about his crypto losses, “he reluctantly accepted that I was right.”

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