ECB President Christine Lagarde Says Her Son Lost “Almost All” Money He Invested in Crypto

Photo of author

By BitcoinWiki News

Key Takeaways:

– Christine Lagarde, President of the European Central Bank (ECB), revealed that her son suffered substantial losses in his investments in cryptocurrencies
– Despite Lagarde’s criticisms of crypto assets, her son chose to invest in them and disregarded her warnings
– Lagarde did not specify which of her two sons, both in their mid-30s, had suffered the losses
– The ECB, under Lagarde’s leadership, has been advocating for global regulations on crypto assets to protect consumers and address potential loopholes for criminal activities
– The launch of a digital euro is still years away, as the bank recently entered the “preparation phase” and expects to take another two years before making a decision on its rollout
– Lagarde’s personal experience with her son’s losses has reinforced her skepticism towards cryptocurrencies
– Lagarde noted that a digital Euro pilot “will probably take us another two years, at least, before it’s the final say” and will not eradicate cash, nor substitute it
– A lot of work has been done in the last three years in terms of exploring and surveying the Europeans on what they want in terms of a central bank digital currency (CBDC)


Christine Lagarde, the President of the European Central Bank (ECB), revealed that her son suffered significant losses in his investments in cryptocurrencies. Despite her warnings and criticisms of crypto assets, her son chose to invest in them, leading to a loss of almost 60% of his investment. Lagarde has been vocal about her concerns regarding cryptocurrencies, describing them as speculative and worthless, and highlighting their potential use in illicit activities. Under her leadership, the ECB has been advocating for global regulations on crypto assets to protect consumers and address potential loopholes for funding terrorists and money laundering. The ECB has also initiated its own digital euro project, but its launch is still years away, with a decision expected in two years. Lagarde’s personal experience with her son’s losses has reinforced her skepticism towards cryptocurrencies. She has emphasized the importance of preventing participation in illegal trades and businesses. Lagarde has also stated that a digital Euro pilot could take another two years, and a central bank digital currency (CBDC) will not eradicate cash. The governing council will decide in October whether to move ahead with more piloting of the project.

This is sponsored by: Learn Bitcoin Option

Leave a Comment