- Neel Kashkari said cryptocurrencies have not demonstrated real-world usefulness despite more than a decade of existence, contrasting them with AI’s growing economic relevance.
- He questioned whether stablecoins offer any advantage over established digital payment platforms, particularly for US consumers.
- His remarks stand in contrast to the Trump administration’s support for Bitcoin and regulated dollar-backed stablecoins as strategic financial tools.
Federal Reserve Bank of Minneapolis President Neel Kashkari has dismissed cryptocurrencies and stablecoins as lacking practical value, describing the sector as “utterly useless” more than a decade after its emergence. Speaking at the 2026 Midwest Economic…
