🛑 Is Crypto "Completely Useless"❓ Clearing the Air on Fed Comments
You might have seen the headlines: Neel Kashkari (President of the Minneapolis Fed) just called crypto "basically useless" again (Feb 2026).
Before you panic-sell or get frustrated, let's break down why he says this and what it actually means for us.
🔍 Why did he say it?
Kashkari looks at crypto through a very narrow lens: "Can you buy a sandwich with it as easily as a Dollar?"
He thinks traditional apps like Venmo or Zelle already handle payments perfectly.
He views crypto as "gambling" or "noise" because it doesn’t fit into the old banking system he manages.
💡 The Other Side of the Story
While he calls it "useless," the rest of the world is moving forward:
Global Freedom: Millions in high-inflation countries use Stablecoins to save their life's work. To them, it’s a lifeline, not "useless."
Institutional Reality: If it’s useless, why are the world’s biggest banks (BlackRock, JP Morgan, etc.) building billion-dollar infrastructures on the blockchain?
Digital Gold: Bitcoin has survived over 15 years of being called "worthless" by officials, yet it remains one of the best-performing assets of the decade.
Well 🫡 Kashkari is a central banker—his job is to protect the U.S. Dollar. Anything that competes with it will always be "useless" in his eyes.
True utility isn't defined by one official; it’s defined by the millions of people using it every day to trade, save, and build.
What do you think? Is Kashkari "stuck in the past," or does he have a point?
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