Crypto is ‘95% fraud, hype, noise and confusion,’ says Fed’s Neel Kashkari

The central banker said he doesn’t see any use case for bitcoin BTCUSD, -0.20%, the world’s No. 1 crypto, and referred to the broader digital-asset sector as one that is largely tied to fraud and hype.

Cryptocurrency is 95% fraud, hype, noise and confusion,” Kashkari said, speaking at the Pacific Northwest Economic Regional Annual Summit in Big Sky, Mont.