Faraday Future Allocates $41 Million for Cryptocurrency Shift
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Faraday Future's Investment: Faraday Future has invested $41 million in Qualigen Therapeutics, rebranding it as CXC10 to pivot towards cryptocurrency and Web3 initiatives, aiming to integrate digital finance with its electric vehicle business.
Leadership and Treasury Expectations: The investment includes a leadership restructuring with YT Jia and Jerry Wang taking key roles, and CXC10 is expected to manage a crypto treasury valued between $500 million and $1 billion, although immediate market impacts remain uncertain.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
