In an interview with The Guardian, NVIDIA's Chief Technical Officer (CTO) Michael Kagan added his remarks on the company and its cryptocurrency position. Being the maker of the world's most powerful graphics cards and compute accelerators, NVIDIA is the most prominent player in the industry regarding any computing application from cryptocurrencies to AI and HPC. In the interview, Mr. Kegan expressed his opinions and argued that newly found applications such as ChatGTP bring much higher value to society compared to cryptocurrencies. "All this crypto stuff, it needed parallel processing, and [Nvidia] is the best, so people just programmed it to use for this purpose. They bought a lot of stuff, and then eventually it collapsed, because it doesn't bring anything useful for society. AI does," said Kegan, adding that "I never believed that [crypto] is something that will do something good for humanity. You know, people do crazy things, but they buy your stuff, you sell them stuff. But you don't redirect the company to support whatever it is."

When it comes to AI and other applications, the company has a very different position. "With ChatGPT, everybody can now create his own machine, his own programme: you just tell it what to do, and it will. And if it doesn't work the way you want it to, you tell it 'I want something different," he added, arguing that the new AI applications have usability level beyond that of crypto. Interestingly, trading applications are also familiar to NVIDIA, as they had clients (banks) using their hardware for faster trading execution. Mr. Kegan noted: "We were heavily involved in also trading: people on Wall Street were buying our stuff to save a few nanoseconds on the wire, the banks were doing crazy things like pulling the fibers under the Hudson taut to make them a little bit shorter, to save a few nanoseconds between their datacentre and the stock exchange."

The biggest crypto scam ever recorded (so far, of course) has made investors lose some $3.6 billion. The scam was enacted by a pair of South African brothers, Ameer Cajee and his brother Raees Cajee, who funded crypto investment firm AfriCrypt in 2019. Another element of warning for all crypto investors, in that rug pulls can obviously be done years after the start of a project - so longevity and temporal maintenance of a given project shouldn't be the "be all, end all" of your due diligence when choosing where to invest your money into.

The story goes as follows: circle back to April 2021, when Bitcoin was at its peak value of around $62,000. That was when AfriCrypt's COO and current heist suspect Ameer Cajee informed users of the platform of a hack - and asked investor not to contact authorities or seek legal proceedings, saying that those actions might impede progress in dealing with its effects and recovery of the funds.