Fed’s Neel Kashkari: Crypto Is “Utterly Useless” Compared to AI

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Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, didn’t mince words at the 2026 Midwest Economic Outlook summit, calling crypto “utterly useless” despite being around for more than a decade. In contrast, he praised artificial intelligence as a transformative force already being used daily, arguing that AI demonstrates clear, tangible economic value.

Kashkari said the difference in real-world adoption speaks for itself. While AI is rapidly integrating into businesses and consumer life, he suggested crypto has yet to prove meaningful utility for the broader US economy — framing the technology as long on hype but short on practical impact.

[nihalsari]

Crypto bros hearing this like: “okay but number go up?”