20.09.2025 23:41

Sources on the internet are reporting that Faraday Future has made a significant move by investing $41 million in Qualigen Therapeutics. This investment is part of a larger strategic shift, as Qualigen will be rebranded as CXC10, a platform focused on crypto and Web3 technologies, signalling Faraday Future's strong interest in blockchain integration.

According to reports, the investment seeks to capitalize on the promise of blockchain technology through collaborations such as the one with SIGN Foundation. Furthermore, Jia Yueting is set to play a prominent role, contributing $4 million personally and taking on the position of chief advisor at CXC10. Yueting anticipates leveraging innovative technologies to establish a resilient crypto and Web3 platform, as mentioned in a statement.

It is understood that CXC10 will be exploring new ventures, including crypto index funds, stablecoins, and Web3 user gateways, marking a distinct departure from its original focus on traditional therapeutics. This transition has sparked various reactions, including speculation among analysts regarding potential regulatory scrutiny from the SEC, particularly given previous instances of regulatory issues with similar crypto pivots.

As the internet chatter suggests, people are waiting for official directives and speculating about increased asset trading linked to CXC10's expansion. The case of Long Island Iced Tea, which rebranded as "Long Blockchain Corp" in 2017, serves as a cautionary tale, showing the possible hazards associated with sudden changes into the crypto space, as it resulted in regulatory challenges. As of September 20, 2025, CoinMarketCap reported Bitcoin's price at $115,727.35, boasting a market capitalization exceeding $2.30 trillion, maintaining a 57.07% market dominance, despite recent trading volume decreases by 42.66% over the previous 90 days, the cryptocurrency has increased by 14.67%.