In a recent speech at the annual PNWER meeting held in Montana, Neil Kashkari, president of the Federal Reserve Bank of Minneapolis, sharply criticized cryptocurrencies, stating that "95 percent of cryptocurrencies are fraud, deceptive advertising and noise," and he also said he had a more positive view of cryptocurrencies in 2015. Kashkari also referred to the large number of altcoins and called them "garbage coins."
I don't agree that 95% is a scam because there are so many altcoins that are capable of growing in every crypto market. maybe in my opinion, they only know 100 altcoins so they dare to claim that 95% are scams. but if they know more than 10,000 altcoins then the percentage that is able to grow is more than less than mentioned above.