PANews reported on September 15th that Faraday Future founder and global co-CEO Jia Yueting released a financial update, revealing that the company has officially launched its cryptocurrency spin-off plan, "Flywheel," and will rapidly establish a second, independently listed Web3 company, "CXC10," with the goal of initially being controlled by Faraday Future. The spin-off plan has been approved by the board of directors. Faraday Future also disclosed that its crypto treasury, C10 Treasury, has currently allocated approximately $10 million in crypto assets.PANews reported on September 15th that Faraday Future founder and global co-CEO Jia Yueting released a financial update, revealing that the company has officially launched its cryptocurrency spin-off plan, "Flywheel," and will rapidly establish a second, independently listed Web3 company, "CXC10," with the goal of initially being controlled by Faraday Future. The spin-off plan has been approved by the board of directors. Faraday Future also disclosed that its crypto treasury, C10 Treasury, has currently allocated approximately $10 million in crypto assets.
Faraday Future has completed approximately $10 million in crypto asset allocation, and the spin-off of Web3 company CXC10 has been approved by the board of directors.
PANews reported on September 15th that Faraday Future founder and global co-CEO Jia Yueting released a financial update, revealing that the company has officially launched its cryptocurrency spin-off plan, "Flywheel," and will rapidly establish a second, independently listed Web3 company, "CXC10," with the goal of initially being controlled by Faraday Future. The spin-off plan has been approved by the board of directors. Faraday Future also disclosed that its crypto treasury, C10 Treasury, has currently allocated approximately $10 million in crypto assets.
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