Neel Kashkari calls DOGE a Ponzi scheme
Minneapolis Fed President Neel Kashkari believes that DOGE is a Ponzi scheme.
It might be interesting to know that earlier, the Minneapolis Fed President had called cryptocurrencies “giant garbage dumpster” before and last week he took another step against the crypto space and lambasted DOGE calling it a Ponzi scheme.
The chief legal officer and corporate secretary of Coinbase, Paul Grewal conducted a poll on Linkedin in which he asked his contacts about the pronunciation of the word Doge. Here is the discussion:
One of the participants was Neel Kashkar who said “the right pronunciation is pon-zi”, which triggered a hot discussion there. It must be said that he had also criticized Bitcoin earlier in February 2020 when he said that BTC does not resemble the features of a stable currency and admired SEC for restricting ICOs.
The Federal Open Market Committee (FOMC) which is in charge of setting United States monetary policy is different this year since Kashkari is not a member of it, he won’t be able to vote for the coming year’s monetary policies. Therefore, the Minneapolis branch of the Fed will replace him as an FOMC member and this suggests that the interest rates will continue rising in 2023 while Kashkari was against adding to the interest rates before 2023.
This change of futuristic perspectives has played a major role in the drastic increase of USD while most of the digital assets saw a decline in their values.
Some coins were supported by celebrities and draw the attention to themselves like DOGE which was backed by Tesla CEO Tweets and was pushed up in price through FOMO although it fell sharply later.
$150 million in USDT was frozen by Tether
A rationale for blacklisting three addresses has not been given by Tether, although it has done so in the past to cooperate with law enforcement and help exchan ...
JAN 14, 2022
Reddit will go public
Internet forum Reddit Social network announced its plans of going public and it is filing for an IPO. ...
DEC 17, 2021
Tesla will accept Dogecoin and DOGE rises 25%
Elon Musk announced that Tesla will accept DOGE as the only cryptocurrency when the payment starts. ...
DEC 14, 2021
90% of the Bitcoin total supply is already mined
Reports say that only 10 percent of the Bitcoin supply is left and they will be mined but at a little slower pace. ...
DEC 13, 2021