cxc10

ChainCatcher news, Faraday Future founder Jia Yueting posted on the X platform stating that the U.S. Securities and Exchange Commission has approved Plume Network to become a registered transfer agent. This not only marks a milestone in compliance but also signifies the maturity of critical market infrastructure, paving the way for the legitimate on-chain recording and transfer of RWA ownership, addressing the industry's "last mile" challenge, and becoming a catalyst for the CXC10 "dual-flywheel" strategy.CXC10 focuses on bringing trillions of dollars of physical assets (including vehicles, data, and energy) from the automotive ecosystem on-chain. The infrastructure is now ready, and the first products will be a new category of compliant RWA assets.

ChainCatcher news, Faraday Future founder Jia Yueting announced that he has completed a strategic investment in the Nasdaq-listed company QLGN, achieving an unrealized gain of nearly 140% on the first day based on the closing price on the transaction settlement date. If the shareholders' meeting approves QLGN to be renamed CXC10 and initiates cryptocurrency and Web3 business, C10 Treasury is expected to start asset allocation in the top ten cryptocurrencies next week.

ChainCatcher news, Faraday Future (NASDAQ: FFAI) announced today that it will strategically invest in Qualigen Therapeutics (NASDAQ: QLGN) through a $41 million PIPE transaction, which will be renamed CXC10 and transformed into a crypto and Web3 business platform.CXC10 plans three major growth engines: C10 Value Anchoring: including the C10 Treasury (80% passive / 20% active allocation), the first publicly listed company's top ten crypto asset index, and the planned C10 ETF; BesTrade DeAl Agent: creating the only gateway for users to enter the Web3 world; Ecosystem Tokens: including dual-bridge RWA products connecting FFAI industry data with digital finance, and the C10 stablecoin supported by the C10 Treasury and US dollars.In addition to Faraday Future and Jia Yueting personally, it also includes the blockchain technology company SIGN Foundation, which has received support from Binance Labs, Sequoia Capital (US, India, China), IDG, and Circle. After the transaction is completed, Faraday Future and Jia Yueting will collectively hold approximately 62% of CXC10's equity. Jia Yueting will serve as Chief Advisor, and FF President Jerry Wang will serve as Co-CEO.

ChainCatcher news, according to market news, Faraday Future founder and global co-CEO Jia Yueting released a performance update, disclosing that the company has officially launched the spin-off plan for the cryptocurrency flywheel and will expedite the establishment of a second independent publicly listed Web3 company "CXC10," initially targeted to be controlled by Faraday Future. This spin-off plan has been approved by the board of directors.In addition, Faraday Future also disclosed that its crypto treasury C10 Treasury has currently completed an allocation of approximately $10 million in crypto assets.

ChainCatcher news, Jia Yueting stated that CXC10 will operate independently and raise funds, aiming to become a Web3 company listed in the United States. The core value of CXC10 will still be integrated into Faraday Future (FFAI), and the growth of cryptocurrency will not dilute the value of Faraday Future; the two flywheels operate independently but will promote each other.It is reported that Jia Yueting also responded to the short-selling report from the short-selling agency Wolfpack Research, stating that the related report is based on outdated rumors, cherry-picking, subjective speculation, and blatant falsehoods. He is taking legal action and will not compromise, defending the interests of all shareholders and the vision.