The strategic investment, which was announced at the Company's annual 919 event held in Los Angeles on Sept. 19, accelerates the progress of the "Dual-Flywheel & Dual-Bridge" Eco Strategy to maximize stockholder value.
QLGN expects to rebrand as CXC10, focusing on three growth engines with six potential major products for crypto/Web3 ecosystem build-ip, targeting to become atop U.S. public company bridging Web2 and Web3, as well as AI and crypto.
As of 6 p.m. on September 18, the C10 Treasury delivered an unrealized gain of around 7%, outperforming the C10 index overall.
The Company revealed its stunning ultra-wide dual-screen panoramic display for the FX Super One MPV at the 919 event. The huge display, a truly breathtaking design, caters to both driver and front passenger, balancing driving and entertainment in perfect harmony.
The Company also announced that all core proposals other than the name change were approved at Friday's special meeting of stockholders.
LOS ANGELES, Sept. 21, 2025 (GLOBE NEWSWIRE) -- Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) ("Faraday Future", "FF" or "Company"), a California-based global shared intelligent electric mobility ecosystem company announced that it is strategically investing in public company Qualigen Therapeutics, Inc. (NASDAQ:QLGN), which will start a crypto and web3-related business. The announcement, which included numerous Company updates, occurred at its annual 919 event, held on Friday, Sept. 19, at its Los Angeles headquarters.
The investment will be led by FF, together with Founder & Global Co-CEO YT Jia, with other investors including SIGN Foundation, a blockchain technology company backed by Binance Labs, Sequoia Capital (US, India, China), IDG, and Circle, building software infrastructure for governments and the next generation of capital markets. With stockholder approval and other closing conditions, the total investment will be approximately $41 million, subject to final closing adjustments.
FFwill invest about $30 million and receive about 55% of QLGN's common stock on a pro forma basis. With a loan from FFGP, YT Jia will invest $4 million dollars and receive about 7% of QLGN's common stock on a pro forma basis. As a cornerstone investor, YT will lock up his shares for two years.
FF plans to gradually start to assign management teams to lead the relevant business activities. YT Jia will also serve as a chief advisor to QLGN, and FF Global President Jerry Wang is expected to be appointed as the Co-CEO of QLGN. After the transaction is completed, FF will have the right to nominate two of five QLGN directors. If the investment is approved by QLGN stockholders, FF's nomination rights could increase to four of seven board seats.
The Six Key Products of the Three Growth Engines in Crypto
After completing the required approval process, QLGN is expected to be rebranded as CXC10. The letters C, X, and C10 each stand for one of the three growth engines of QLGN. The first C stands for the crypto ecosystem tokens. X stands for the planned DeAI Agent of the mother exchange. And C10 stands for QLGN's value anchor.
CXC10 ...
