Faraday Future, an electric vehicle manufacturer listed on Nasdaq, plans to make significant investments in cryptocurrency as part of its ambitious strategy.
Company Investments and Strategy
Faraday Future aims to start with the acquisition of $30 million worth of cryptocurrencies, marking the beginning of a long-term investment strategy that could reach tens of billions of dollars. This reflects the company's vision to integrate innovative Web3 and AI solutions.
Creation of Index and Fund
The company plans to establish a 'C10 Treasury' to manage and grow its cryptocurrency holdings. This treasury is expected to generate sustainable returns through staking and finance product development, stock buybacks, and asset expansion. Additionally, Faraday Future is launching a 'C10 Index' that tracks the top 10 cryptocurrencies, deliberately excluding stablecoins.
Development of EAI Vehicle Chain
Faraday Future is developing the 'EAI Vehicle Chain', enabling tokenized vehicle sales and facilitating crypto-based deposits. EAI, short for Embodied AI, integrates artificial intelligence directly into physical objects, such as vehicles.
While Faraday Future's shift towards crypto assets occurs amidst a challenging business environment, it represents a step toward diversification and modernization of the company's financial strategy.
