Business
Faraday Future Founder and Co-CEO YT Jia Shares Weekly Investor Update: FF Officially Started the Spinoff Plan for the Crypto Flywheel, a Second Independently Listed Company, to be Named CXC10
The Company’s 919 event is just 5 days away. Company updates will be given at the 919 event including details on C10 & C (Crypto), the Company’s three growth
About this update from Faraday Future Intelligent Electric Inc.
[{"type":"text","content":"The Company’s 919 event is just 5 days away. Company updates will be given at the 919 event including details on C10 & C (Crypto), the Company’s three growth engines, including the C10 Treasury; its roadmap for capital value realization; and the deployment strategy for FF EAI Vehicle Chain products. LOS ANGELES, Sept. 14, 2025 (GLOBE NEWSWIRE) -- Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future”, “FF” or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today shared a weekly business update from YT Jia, Founder and Global Co-CEO of FF. “Coming to the 20th issue of our Weekly Report. And let’s start with the big progress in the Crypto flywheel. FF officially started the spinoff plan for the Crypto flywheel. We will move quickly to establish a second independent listed company, targeted to be initially controlled by FFAI, creating a dual-listed company structure. The second independently listed company, which I will refer to as CXC10, will raise its own capital and operate independently. The goal is for CXC10 to become one of the leading Web3 listed companies on the U.S. stock market. The Board has approved the spin-off strategy. The Company is working closely with investment banks, potential strategic investors, and law firms. Additional detailed progress and plans will be announced at the September 19 annual stockholder event. This spin-off aims to address two key concerns from stockholders: First, as CXC10 would raise capital independently, the C10 Treasury would no longer dilute FFAI stock. Second, each team could focus more sharply. The FFAI team will mainly concentrate on its core businesses, especially the delivery progress of FF and FX products. At the same time, if the financial reporting includes the consolidation of the CXC10’s financial statements, the core value of CXC10 would, at least initially, be reflected within FFAI’s financial statements. This will ensure that the Dual Flywheel can run independently while still empowering each other, maximizing stockholder value. The C10 Treasury has now completed about $10M in crypto asset allocation. Its performance is strong, with a positive mark-to-market, and is outperforming the C10 Index overall. Notably, the 20% actively managed allocation has delivered unrealized gains above the C10 Index. As of 6:...