Fed's Neel Kashkari calls crypto 'utterly useless,' dismisses stablecoins as 'buzzword salad'

Federal Reserve Bank of Minneapolis President Neel Kashkari has expressed strong skepticism regarding cryptocurrency, labeling it as "utterly useless" in terms of its practical applications and value. Furthermore, he dismissed the concept of stablecoins, which are designed to maintain a stable value by being pegged to traditional fiat currencies, as nothing more than what he termed "buzzword salad," indicating that he believes the terminology associated with stablecoins is superficial and lacks substantive merit. His remarks reflect a broader critique of the cryptocurrency market and its underlying technologies, highlighting his concerns about their utility and viability within the financial system. source: https://www.coindesk.com/policy/2026/02/19/fed-s-neel-kashkari-calls-crypto-utterly-useless-dismisses-stablecoins-as-buzzword-salad