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."
There are many reasons for them to say cryptocurrency has many problems, but they don't see cryptocurrency in general, even they justify something based on some not so basic facts, we have no right to say they are wrong, but I think this is not good for the survival of cryptocurrencies.