Federal Reserve Bank of Minneapolis President Kashkari recently stated that, from a consumer application perspective, the practical use of cryptocurrencies is very limited. This remark has once again sparked discussions in the market about the differences in understanding between traditional financial institutions and the Web3 ecosystem.

After experiencing turbulent years in the crypto market, authoritative voices like the Federal Reserve represent a cautious attitude of the traditional financial system regarding the application prospects of digital assets in everyday consumption scenarios. However, this viewpoint has also fueled ongoing debates within the community about the actual utility of mainstream cryptocurrencies such as Bitcoin and Ethereum—supporters believe that technological innovation and ecosystem development are still in the early stages, and the realization of consumer applications is a mid- to long-term goal; critics point out that regulatory reservations reflect the current real bottlenecks of crypto assets in mainstream payment and consumption fields.

In any case, statements from frontline policymakers often serve as important reference points for market sentiment fluctuations and industry public opinion.