Faraday Future Secures 55% Stake in Qualigen With $41M Web3 Investment

Qualigen Therapeutics has successfully closed a $41 million private investment in public equity (PIPE) financing led by Faraday Future Intelligent Electric, which now holds a 55% stake in the company. This investment is part of Qualigen's strategic transformation into a crypto and Web3-focused business, with plans to rebrand as CXC10 and develop products including a digital asset treasury, AI-powered crypto trading agent, and real-world asset ecosystem tokens. Faraday Future's involvement aligns with its 'Dual-Flywheel & Dual-Bridge' Eco-Strategy, aiming to integrate electric mobility with crypto and Web3 technologies. YT Jia, Faraday Future's Founder and Global Co-CEO, has also invested personally and committed to a two-year lockup, emphasizing confidence in this new venture. The partnership is expected to create new value for stakeholders by linking electric vehicle innovation with blockchain and decentralized finance. Despite Faraday Future's current financial challenges, this strategic move marks a significant step in its global intelligent electric mobility ecosystem ambitions.