Jia Yueting: The crypto flywheel is accelerating, and the $30 million investment in QLGN will be completed this week

ChainCatcher news, Jia Yueting stated that Faraday Future's $30 million investment in Qualigen Therapeutics (QLGN) has more than doubled its market value, and this strategic investment is expected to be completed this week, accelerating the crypto flywheel.

On September 20, Faraday Future announced a strategic investment in Qualigen Therapeutics (NASDAQ: QLGN) through a $41 million PIPE deal, with the latter set to be renamed CXC10 and transformed into a crypto and Web3 business platform. The lineup of investors is strong, including not only Faraday Future and Jia Yueting personally but also Sign, a blockchain technology company that builds on-chain public infrastructure for governments and enterprises globally, providing secure solutions ranging from digital identity verification to token distribution.