PANews reported on September 30th that Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) has completed a strategic investment of approximately US$41 million in Qualigen Therapeutics (NASDAQ: QLGN). FF contributed approximately US$30 million, FF founder YT Jia (Jia Yueting) contributed approximately US$4 million, and SIGN Foundation and others participated. Following the transaction, FF holds approximately 55% of QLGN's common stock and YT Jia approximately 7%, with a two-year lock-up commitment. QLGN is expected to be renamed CXC10 and advance its crypto and Web3-related businesses. This investment is part of FF's "Dual-Flywheel & Dual-Bridge" ecosystem strategy, which aims to connect EAI with crypto, Web2, and Web3.PANews reported on September 30th that Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) has completed a strategic investment of approximately US$41 million in Qualigen Therapeutics (NASDAQ: QLGN). FF contributed approximately US$30 million, FF founder YT Jia (Jia Yueting) contributed approximately US$4 million, and SIGN Foundation and others participated. Following the transaction, FF holds approximately 55% of QLGN's common stock and YT Jia approximately 7%, with a two-year lock-up commitment. QLGN is expected to be renamed CXC10 and advance its crypto and Web3-related businesses. This investment is part of FF's "Dual-Flywheel & Dual-Bridge" ecosystem strategy, which aims to connect EAI with crypto, Web2, and Web3.
Faraday Future invested approximately $41 million in Qualigen, holding approximately 55% of the shares.
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PANews reported on September 30th that Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) has completed a strategic investment of approximately US$41 million in Qualigen Therapeutics (NASDAQ: QLGN). FF contributed approximately US$30 million, FF founder YT Jia (Jia Yueting) contributed approximately US$4 million, and SIGN Foundation and others participated. Following the transaction, FF holds approximately 55% of QLGN's common stock and YT Jia approximately 7%, with a two-year lock-up commitment. QLGN is expected to be renamed CXC10 and advance its crypto and Web3-related businesses. This investment is part of FF's "Dual-Flywheel & Dual-Bridge" ecosystem strategy, which aims to connect EAI with crypto, Web2, and Web3.
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