Minneapolis Federal Reserve President Neel Kashkari said crypto is “almost never” used outside of drugs and criminal activity — but evidence points to the contrary.
Minneapolis Federal Reserve President Neel Kashkari — who once likened Bitcoin to Beanie Babies — has landed himself in hot water again after perpetuating a claim that crypto is only useful for “buying drugs” or “other illegal activities.”
Speaking at a Wisconsin Town Hall event hosted by the Chippewa Falls Area Chamber of Commerce, Kashkari claimed “very few transactions were actually happening” in crypto, claiming:
The comment, which echoes unsubstantiated claims from other crypto skeptics in government in the past, didn’t go down well on X.
