European Central Bank (ECB) President Christine Lagarde has announced her intention to step down from her role on February 7, 2027, just nine months before the end of her eight-year term. Lagarde, who has led the institution since November 2019, expressed gratitude to her teams and the individuals who have supported her throughout her tenure.
Winklevoss Criticizes Lagarde’s Crypto Policies
Following the announcement, Tyler Winklevoss, co-founder of the U.S.-based cryptocurrency exchange Gemini, openly criticized Lagarde for her policies on digital currencies. In a statement posted on social media, Winklevoss argued that Lagarde will be remembered for her failed attempts to oppose cryptocurrencies, and he extended his best wishes for her future endeavors.
Tyler Winklevoss claimed that Christine Lagarde’s legacy will be defined by her fight against cryptocurrencies and her ultimate failure in that endeavor.
The process to appoint Lagarde’s successor will be managed by the European Council, with no names currently floated for her replacement.
Lagarde’s Critical Stance on Cryptocurrencies
Lagarde has been vocal in her criticism of cryptocurrencies, particularly Bitcoin, which she described as a highly speculative asset back in January 2021. She highlighted the potential for cryptocurrencies to be used in illegal financial activities, advocating for globally coordinated regulation to combat these issues at the Reuters Next conference.
In May 2022, Christine Lagarde remarked that cryptocurrencies are practically worthless, lacking any fundamental assets to provide security for investors.
Her criticisms intensified in May 2022 when she stated that cryptocurrencies essentially hold no value. In a Dutch television interview, she remarked on their lack of underlying assets to assure security for investors, warning of inexperienced retail investors risking their savings in speculative investments.
Personal Insights and Policy Decisions
Despite her reservations, Lagarde candidly shared that one of her sons had invested in cryptocurrencies, ignoring her advice and consequently losing nearly all his investment, as she revealed in November 2023.
In January 2025, Lagarde emphatically rejected the proposal to include Bitcoin in European central banks’ reserves. She turned down Czech National Bank President Aleš Michl’s suggestion to explore the possibility of Bitcoin investments, underscoring that central bank reserves must remain liquid, secure, and stable.
