ECB's Lagarde Says Her Son Invested in Crypto
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26 May

European Central Bank (ECB) President Christine Lagarde revealed on the Dutch program College Tour that her son invested in cryptocurrencies despite her efforts to convince him not to do that.

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The ECB chief didn't elaborate about what exact cryptocurrency her son invested in, but she said she's following "very carefully." Answering to the question of what she's taken away from that, Lagarde said:

"That I would not put my finger in there."

ECB President: Cryptocurrencies Need to Be Regulated

Lagarde said her son wouldn't listen to her advice about avoiding cryptocurrencies, but she didn't insist on that, emphasizing that he's a "free man." Her comments come after the ECB wrote in a report that institutional investors, including hedge funds and family offices, are actively increasing their investments in bitcoin (EXANTE: Bitcoin) and cryptocurrencies in general as big players seek more ways to diversify their portfolios.

That growing interest in cryptocurrencies might post systemic risk as retail investors show more interest in digital assets although cryptocurrencies lack consumer protection and are full of misleading information, the regulator said.

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