Faraday Future Unveils Multi-Billion Dollar Crypto Strategy
EV innovator Faraday Future is launching a significant cryptocurrency strategy, including establishing a crypto treasury expected to reach tens of billions. The company plans an initial $30 million crypto purchase and aims to acquire $500 million to $1 billion in top cryptocurrencies.
Initiatives include a C10 crypto index, tokenized vehicle sales, and potential ETF creation. California State Treasurer Fiona Ma endorsed the strategy, citing economic benefits.
Despite past operational challenges, Faraday Future's shares have shown recent resilience.