Minneapolis Fed president calls Dogecoin a Ponzi scheme.

Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, described the meme cryptocurrency Dogecoin as a Ponzi scheme in a comment on Coinbase chief legal officer Paul Grewal’s LinkedIn poll about the correct pronunciation of the DOGE token.

More than half (57%) of the 1,000 respondents chose the established variant — Do-j [додж]. For the pronunciation Do-zh [дож] 22% voted. About the same (21%) are confident in both variants.

“The correct pronunciation is pon-zi [пон-ци],” Kashkari noted in the comments.

As of writing, Dogecoin trades at around $0.26, according to CoinGecko. The meme cryptocurrency’s market capitalization is $33.7 billion.

Earlier this May, criticized Dogecoin and compared interest in meme cryptocurrency to the hype around non-fungible tokens.

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