Federal Reserve Bank of Minneapolis President Neel Kashkari has once again riled up the cryptocurrency community with his recent tweet, in which he says that the cryptocurrency industry is only filled with “scammers” who rip off the uninitiated with their pump-and-dump schemes.
Kashkari’s most recent comment has united different tribes of the cryptocurrency community.
IOG CEO Charles Hoskinson, who created proof-of-stake blockchain project Cardano, pointed to the Federal Reserve’s egregious money printing that he believes pushes people to place their faith in “sound money” that cannot be manipulated by the government.
"So the org that can print TRILLIONS every year and claim there is no inflation thereby devastating the poorest amongst us has an issue with sound money that cannot be manipulated by politics. I'm shocked Neel!! SHOCKED!!!"
Alex Gladstein, Strategic Officer for the Human Rights Foundation, has shared numerous articles showing how Bitcoin helps people in countries such as Cuba, Nigeria, and Ethiopia achieve economic freedom and the fight against corruption.
He has not commented on cryptocurrencies for a long time, but he has recently become more skeptical. As reported by U.Today, he recently said that he was more optimistic in 2015 than he is now. He also said that 95% of all cryptocurrencies are driven by "fuss, noise, and confusion".
The real face of the central bank has become widely known in cryptocurrency circles after his infamous "60-minute" interview in which he said the central bank wanted to print an unlimited amount to boost the US economy.
Critics claim that ordinary people have to shoulder the burden of the Fed’s reckless monetary policy decisions that lead to higher inflation.
Source:
https://u.today/cardano-creator-slams-central-banker-who-says-that-crypto-industry-is-full-of-scammers