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European Central Bank chief Christine Lagarde reportedly said her son ignored warnings against crypto investments and lost “about 60%” of his money. European Central Bank (ECB) president and prominent Bitcoin (BTC) critic Christine Lagarde has shared a family story about unsuccessful cryptocurrency investments, according to a report from Reuters. Lagarde told students at a town hall in Frankfurt on Nov. 24 that her son lost “almost all” of his investments in crypto assets, despite persistent warnings, Reuters reported. “He ignored me royally, which is his privilege,” Lagarde reportedly declared, adding that he lost “almost all the money he had invested.” The ECB chief didn’t disclose the sum her son lost, noting that he claimed it wasn't “a lot,” but only “about 60%” of his crypto investments. “So when I then had another talk with him about it, he reluctantly accepted that I was right,” Lagarde reportedly stated, adding: “I have, as you can tell, a very low opinion of cryptos [....

The head of the European Central Bank (ECB), Christine Lagarde, said that the EU needs its own version of the U.S. Securities and Exchange Commission (SEC). As Financial Times reports, citing Lagarde’s words at a speech in Frankfurt, the creation of a European SEC will help attract the huge funds needed to solve the triple problem of “deglobalization, demographics and decarbonization.” In addition, the official called for an end to the system of national financial exchanges, saying that “the European capital market needs consolidated market infrastructures.” Lagarde also noted that US bond markets are three times larger than those in Europe, and the volume of venture capital funding in the EU is one-fifth that of the U.S. despite the fact that the U.S. economy is more than half the size of the EU, she added. You might also like: EU finance ministers green light MiCA crypto regulation This spring, the European Parliament voted for a law on licensing cryptocurrencies ...