The son of anti-cryptocurrency European Central Bank President Lagarde is sinking in crypto!

Christine Lagarde, President of the European Central Bank (ECB), known for her opposition to cryptocurrencies, said her son went down in crypto.

Lagarde revealed at an event in Frankfurt that her son invested in cryptocurrencies despite all her warnings and lost almost all of the money he invested.

Lagarde described crypto as speculative, worthless and a tool often used by criminals for illegal activities.

"The money she invested was not much, but she lost about 60 percent of it," Lagarde said, adding that she spoke to her son again about the issue and he found her right.