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- 🍁 Golden Autumn, Big Prizes Await!
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ECB's Lagarde Shares Story of Son's Crypto Losses
Christine Lagarde, the ECB President, recently let slip something personal. Her son lost money. Big money. He dove into cryptocurrencies despite her warnings.
At an event in Frankfurt, she revealed this family drama. Her son just... ignored her. Completely. The result? He lost "almost all" of his crypto investments. Gone. About 60% of what he put in, vanished.
Lagarde's never hidden her feelings about cryptocurrencies. She's not a fan. Not at all. This story from her own household seems to reinforce why. It's kind of ironic that even the son of Europe's top banker couldn't escape the crypto crash.
Meanwhile, the ECB keeps working on its digital euro project. Different thing entirely, Lagarde insists. It's meant to work alongside regular money, not take over.
Her son's expensive lesson? It stands as a pretty stark warning. Crypto markets can be brutal. Even when your mom runs the European Central Bank. Perhaps especially then.