ECB chief Lagarde admits her son lost crypto cash

FILE PHOTO: European Central Bank President Christine Lagarde addresses the European Parliament's Committee on Economic and Monetary Affairs, at the European Parliament, in Brussels, Belgium March 20, 2023. REUTERS/Johanna Geron//File Photo

FRANKFURT (Reuters) - No one is a prophet in their own land, including European Central Bank President Christine Lagarde, who admitted on Friday that her son lost "almost all" of his investments in crypto assets, despite copious warnings.

Lagarde has long railed against cryptocurrencies, calling them speculative, worthless and a tool often used by criminals for illicit activity.