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Cardano's Hoskinson blasts Fed's Kashkari on crypto

Tue 24 Aug 2021 ▪ 10h33 ▪ 3 min read — by Katie Donaldson

Federal Reserve Bank of Minneapolis President Neel Kashkari has yet again attacked the crypto industry, saying that it’s swarming with scammers. However, IOG CEO Charles Hoskinson has pointed out that the Federal Reserve itself is not different.

Twitter altercation

The community of crypto haters continues to grow with every passing day. However, Neel Kashkari is no stranger to starting feuds with crypto investors. He once again said that the cryptocurrency industry is supposedly full of scammers who rip off the uninitiated with their pump-and-dump schemes.

IOG CEO Charles Hoskinson, the creator of Cardano (ADA) and co-founder of Ethereum (ETH), retorted that the Federal Reserve’s damaging money printing is pushing people to trust cryptocurrencies that cannot be manipulated by the government. 

Alex Gladstein also was quick to point out how wrong Kashkari is. Human Rights Foundation’s chief strategy officer replied with several researches on how Bitcoin (BTC) has helped the peoples of Cuba, Nigeria, and Ethiopia to regain economic freedom and fight corruption.

Kashkari has been advocating against all forms of crypto for quite a while now. He recently said that “I am more optimistic about the industry back in 2015 than now. 95 percent of all cryptocurrencies were driven by hype, noise, and confusion.”

Kashkari has been widely criticised for his 60 minutes interview, in which he publicly announced that the Federal Reserve is ready to print as much money as needed in order to support the US economy.

It’s unclear how he doesn’t realise that such a plan is no different from any other pump-and-dump scheme. His idea will inevitably lead to inflation, from which the central bank will only continue to benefit.

Charles Hoskinson, the creator of Cardano, has put Federal Reserve’s Neel Kashkari to shame by pointing out how the central bank essentially capitalises on the poorest, while the crypto community seems to bring them more benefits than anyone else.

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Katie Donaldson avatar
Katie Donaldson

I went full time crypto back in June 2018, and have never looked back. I want to help persuade as many people as possible to come and build the decentralised future! Let’s go!

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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