Lagarde said that her son "ignored me royally, which is his privilege". And that he "lost almost all the money that he had invested".

"It wasn't a lot but he lost it all, about 60% of it. So when I then had another talk with him about it, he reluctantly accepted that I was right. I have, as you can tell, a very low opinion of cryptos. People are free to invest their money where they want, people are free to speculate as much as they want, (but) people should not be free to participate in criminally sanctioned trade and business."

European Central Bank Lagarde