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."
Bank's people always find the weakness of cryptocurrency to make the public not using it and still using conventional banks in the future.
Yes there are a lot of garbage coins out there because the easiness of crypto token creations, but there are maybe a hundred thousands crypto currency out there which mean the 5% rest is not few numbers.
There are a lot of good cryptocurrencies coin that really give the owner a good service and promising future plan. As an investors we have to be smart about choosing which coin that we want to buy