Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, delivered sharp criticism of cryptocurrencies during the 2026 Midwest Economic Outlook Summit in Fargo, North Dakota, arguing that digital assets like bitcoin and stablecoins have yet to demonstrate meaningful real-world utility. Speaking to attendees, Kashkari contrasted the rapid adoption of artificial intelligence (AI) tools with what he described as the limited practical use of crypto.

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