Anti-Bitcoin Central Bank of the European Union Lagarde admits the lost child in Crypto

President of the European Central Bank and explained crypto critic Christine Lagarde is doing her best to protect the Eurozone from the volatility of crypto assets. But on Friday, Lagarde admitted she could not do the same for her own family.

Lagarde's 30-year-old son bought crypto against her will and “lost everything,” the French politician admitted at a Frankfurt town hall meeting on Friday, the report added. Reuters.

“He ignored me royally, which is his right,” Lagarde told the student audience. “And he lost all the money he invested.”

Lagarde said publicly. last year About her son's crypto holdings, multiple failed interventions and investing in digital assets despite trying to convince him he was doing something wrong. The European official has two sons, both in their mid-thirties, but they have not made it publicly clear which of the two have invested in crypto.

Lagarde's son should have listened to his mother only after he finally faced huge losses, the head of the ECB said on Friday.

“It wasn't much but he lost everything, about 60%,” Lagarde added. “So when I spoke to him again about it, he reluctantly admitted I was right.”

The head of the European banking system has long been vocal in his disdain for crypto. Last year she he said. All crypto assets are “worthless” and “based on nothing.” When pressed on the question of whether Bitcoin should ever be held by central banks, Lagarde He was fired Like “out of the question” possibility.

While Lagarde has been an outspoken critic of decentralized digital assets like bitcoin and other cryptocurrencies, she has also been a major proponent. Central bank digital currencies (CBDCs) for years. Under her leadership, the European Central Bank was launched Active monitoring A Digital EuroAlthough the final decision about the adoption has not been made.

CBCCs, like the proposed digital euro, are electronic versions of state fiat currencies that allow peer-to-peer electronic payments without relying on intermediaries such as banks.

Although CBCCs have already been adopted by a few countries Bahamas, JamaicaAnd NigeriaThey have become a political flashpoint in other countries such as the United States. Opponents have named financial technology “Utterly Un-American” And he tried to do it It makes it illegal Because it has the ability to allow governments to control financial transactions in several regions.

Edited by Andrew Hayward.