Sunday, June 8, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

Crypto Misfortune: European Central Bank Chief’s Son Hit By 60% Investment Loss

November 25, 2023
in Bitcoin
Reading Time: 3 mins read
0 0
A A
0
Home Bitcoin
Share on FacebookShare on TwitterShare on E Mail


In response to a Reuters report, European Central Financial institution (ECB) President Christine Lagarde revealed that her son skilled substantial losses in his crypto investments, disregarding quite a few warnings. 

Lagarde, a vocal critic of cryptocurrencies, has expressed considerations about their speculative nature, lack of intrinsic worth, and potential misuse by criminals for illicit actions. 

ECB Chief Urges Want For International Crypto Regulation

Throughout a city corridor occasion with college students in Frankfurt, Germany, Lagarde revealed that her son, whose id was not disclosed, misplaced “nearly all” of his investments in crypto property. 

Lagarde burdened that he ignored her recommendation regardless of her warnings and suffered important monetary penalties. Lagarde revealed that her son misplaced about 60% of his invested funds, prompting him to acknowledge her considerations reluctantly.

The European Central Financial institution has persistently advocated for the worldwide regulation of crypto property. Their major goals are to safeguard uninformed shoppers from potential dangers and to handle vulnerabilities that may be exploited for terrorist financing and cash laundering actions. 

The ECB’s name for regulation is pushed by considerations that privately issued currencies may undermine conventional government-backed currencies.

In response to the perceived threats posed by cryptocurrencies, the ECB has initiated the event of its personal digital forex, the digital euro. Nonetheless, in response to Reuters, the implementation of the digital euro remains to be years away.

Digital Euro Progress

In response to Reuters, the ECB entered the “preparation section” for the digital forex venture final month, estimating that it will require a further two years earlier than deciding on its potential rollout.

Lagarde reiterated her damaging view of digital property, expressing a “very low opinion” of them. Whereas acknowledging people’ freedom to take a position and speculate, she emphasised that collaborating in prison actions shouldn’t be tolerated. 

Lagarde highlighted the significance of distinguishing between reputable commerce and illicit practices within the crypto house. The European Central Financial institution Chief acknowledged:

I’ve, as you may inform, a really low opinion of cryptos. Persons are free to take a position their cash the place they need, persons are free to invest as a lot as they need, (however) folks shouldn’t be free to take part in criminally sanctioned commerce and companies.

Because the ECB continues to discover the potential of a digital euro, the controversy surrounding cryptocurrencies and their regulation will doubtless persist, with international authorities searching for to strike a steadiness between innovation and safety.

The entire crypto market cap’s uptrend on the every day chart. Supply: TOTAL on TradingView.com

The entire market capitalization of cryptocurrencies has seen a notable improve, rising by 2.3% inside the final 24 hours. This surge has propelled the business’s total capitalization to surpass the earlier milestone of $1.4 trillion.

In gentle of this latest inflow of funds into the market, the main cryptocurrency, Bitcoin (BTC), has achieved a brand new excessive for the yr, reaching $38,400. Bitcoin’s upward momentum has continued following a short consolidation section ranging between $36,000 and $37,000.

Featured picture from Shutterstock, chart from TradingView.com



Source link

Tags: BankCentralChiefscryptoEuropeanhitInvestmentlossMisfortuneSon
Previous Post

Valour XRP ETP Set To Begin Trading, Can Institutional Inflows Drive Price To $10?

Next Post

Ethereum Layer-2 Blast Has $400 Million Locked in Just 4 Days, Despite Concerns

Related Posts

Ethereum Prepares For A Parabolic Move – ETH/BTC Chart Signals Strong Bullish Setup
Bitcoin

Ethereum Prepares For A Parabolic Move – ETH/BTC Chart Signals Strong Bullish Setup

June 8, 2025
Bitcoin Stabilizes at $104,000 Mid-Range as Market Eyes Next Breakout
Bitcoin

Bitcoin Stabilizes at $104,000 Mid-Range as Market Eyes Next Breakout

June 8, 2025
Tim Draper: $250K Bitcoin Coming in 2025, May Go ‘Infinite’ Against Dollar
Bitcoin

Tim Draper: $250K Bitcoin Coming in 2025, May Go ‘Infinite’ Against Dollar

June 8, 2025
Bitcoin Lags Behind Stocks Over The Past 2 Weeks – Temporary Pause Or Trend Shift?
Bitcoin

Bitcoin Lags Behind Stocks Over The Past 2 Weeks – Temporary Pause Or Trend Shift?

June 7, 2025
FCA Proposes Lifting Ban on Crypto ETNs for UK Retail Investors
Bitcoin

FCA Proposes Lifting Ban on Crypto ETNs for UK Retail Investors

June 7, 2025
Africa Crypto News Week in Review: South Africa Calls for Modern Crypto Laws, Kenyan Banks Ready for Crypto as Tether Expands
Bitcoin

Africa Crypto News Week in Review: South Africa Calls for Modern Crypto Laws, Kenyan Banks Ready for Crypto as Tether Expands

June 8, 2025
Next Post
Ethereum Layer-2 Blast Has $400 Million Locked in Just 4 Days, Despite Concerns

Ethereum Layer-2 Blast Has $400 Million Locked in Just 4 Days, Despite Concerns

Application modernization overview – IBM Blog

Application modernization overview - IBM Blog

Tether And Bitfinex Drop Resistance To FOIL Request, Prioritize Transparency

Tether And Bitfinex Drop Resistance To FOIL Request, Prioritize Transparency

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In