According to Globenewswire, Jia Yueting, founder and co-CEO of Faraday Future, announced in the weekly investor update that the company has officially launched the cryptocurrency flywheel spin-off plan, and will quickly establish a second independent listed company, CXC10, to form a dual-listed company structure.
The split, which has been approved by the board of directors, will see CXC10 independently financed and operated, with the goal of becoming one of the leading publicly traded Web3 companies in the US stock market. The company is working closely with investment banks, potential strategic investors and law firms, with details to be announced at its annual general meeting on September 19.
According to reports, the split is designed to address two major concerns of shareholders: one is that after CXC10 independently raises funds, C10 Treasury will no longer dilute FFAI shares; the other is that each team can focus more on its core business. At present, C10 Treasury has completed about 10 million US dollars of crypto asset allocation, performing strongly and outperforming the C10 index.
Faraday Future: Independent listed web3 company named CXC10, has completed about $10 million in crypto asset allocation
2025-09-15 03:05:40
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