The president of the European Central Bank has revealed that her son invests in cryptocurrencies

Christine Lagarde made the admission as she warned about the dangers of digital assets once again — doubling down on her assertion that virtual currencies are worthless.

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The president of the European Central Bank has revealed that her son invests in cryptocurrencies — against her advice.

Christine Lagarde made the admission as she warned about the dangers of digital assets once again — doubling down on her assertion that virtual currencies are "based on nothing" and worthless.

In an interview on Dutch television, Lagarde confirmed she doesn't own crypto as she wants to practice what she preaches. Yet she conceded some in her family don't feel the same, and said her son is a "free man."

She is particularly concerned about inexperienced investors who will put their life savings into crypto — not least because some major coins have more than halved in value since the market hit a high point last November.

Lagarde warned those who fail to understand the risks will be "terribly disappointed" when they lose it all — and said this "is why I believe that they should be regulated."

The central banker, who previously headed up the International Monetary Fund, has repeatedly called for regulations in recent years — but global leaders have so far failed to produce a uniform, coherent plan. Instead, a fragmented approach has emerged… and some countries have adopted a far friendlier stance to cryptocurrencies than others.