The son of Christine Lagarde, the European Central Bank’s president, lost nearly all of his investment in cryptocurrency, she told students in Frankfurt.
Lagarde, who has two sons, made the comments while speaking at a town hall meeting in Frankfurt, where she was addressing a room full of students, according to a report in Reuters.
She reportedly said that her son had ignored her advice and lost about 60% of a relatively modest investment he made in crypto assets.
Lagarde has campaigned for more regulation of cryptocurrency investments worldwide in order to protect consumers.
She wants to see greater regulation of crypto assets to shut down a loophole that can be exploited to route money to criminals and terrorists.