FF strategically invests $41 million in Nasdaq-listed company QLGN, with Jia Yueting investing $4 million. QLGN will be renamed CXC 10, aiming to create the first US stock that bridges Web 2 + Web 3 and EAI + Crypto; Jia Yueting establishes a second creditor trust for domestic remaining debts, fulfilling his responsibilities.

Summary:

• FF announced this significant milestone at the annual "919" event, accelerating the implementation of the "dual flywheel & dual bridge" ecological strategy to maximize shareholder and investor interests.
• FF is investing approximately $30 million; FF founder and Co-CEO Jia Yueting will personally invest $4 million through a loan from FFGP, voluntarily locking in his investment as a cornerstone investor for two years.
• The company plans to rename QLGN to CXC 10 after obtaining approval, focusing on the "three driving forces and six major products" of Crypto/Web 3 ecological construction, helping CXC 10 become the first US stock that connects Web 2 with Web 3 and AI with Crypto.
• C 10 Treasury has completed a total of approximately $10 million in crypto asset allocation, with a floating profit of 7% as of 4 PM on September 18 (Los Angeles time), outperforming the C 10 index overall. Notably, the 20% active allocation strategy has been successful, significantly outperforming the market.
• Jia Yueting has no debts under US law; for debts under Chinese law, he will establish a second creditor trust, transferring 50% of the equity incentives obtained from his promotion to Co-CEO and half of the profits generated after repaying the $4 million investment and related costs into the trust to repay debts under Chinese law, with the other half used for vehicle manufacturing, fulfilling his responsibilities regarding related debts. Details of the establishment, operation, and execution of this trust will be announced gradually.
• The company also showcased the highlights of the EAI Space front-row feature of FX Super One at the 919 event, providing drivers and passengers with a personalized, multimodal, immersive spatial experience, achieving a better balance between driving and entertainment.
• At the special general meeting (EGM) held today, all proposals except for those related to the name change have been approved.

Beijing Time September 20, 2025 (Los Angeles September 19) — Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) ("Faraday Future", "FF", or "the Company"), a global shared intelligent electric mobility ecosystem company headquartered in California, USA, announced today at its annual "919" event that it has made a strategic investment in the publicly listed company Qualigen Therapeutics, Inc. (NASDAQ: QLGN) and initiated a Crypto business collaboration.

This investment is led by FF, with participation from FF founder and Co-CEO Jia Yueting and other investors, including blockchain technology company SIGN Foundation supported by Binance Labs, Sequoia Capital, IDG, and Circle. Subject to shareholder approval and the fulfillment of other closing conditions, the strategic investment is expected to exceed $41 million, with the final amount to be confirmed upon closing.

FF will invest approximately $30 million to acquire about 55% of QLGN; Jia Yueting will personally invest approximately $4 million through a loan from FFGP, acquiring about 7% of QLGN. As a cornerstone investor, Jia Yueting will voluntarily lock his shares for two years.

After the investment is completed, FFAI and Jia Yueting will collectively hold approximately 62% of QLGN. The above shareholding ratio is based on the number of shares outstanding on the pricing date and reflects the potential impact of this transaction.

FF will gradually dispatch a management team to carry out related business. Jia Yueting will serve as the chief advisor of QLGN, and FF Global President Jerry Wang will serve as Co-CEO of QLGN. After the completion of this transaction, FF will have the nomination rights for two of the five independent director seats. After shareholder meeting approval, it will have the nomination rights for four of the seven seats, and we already have a majority of shareholders signing voting support agreements.

At the same time, Jia Yueting announced at the 919 event that he will establish a second creditor trust for debts under Chinese law, transferring 50% of the equity incentives obtained from his promotion to Co-CEO and half of the profits generated after repaying the $4 million investment and related costs into the trust to repay debts under Chinese law, with the other half used for vehicle manufacturing, fulfilling his responsibilities regarding related debts. Details of the establishment, operation, and execution of this trust will be announced gradually.

CXC 10 "Three Driving Forces" and "Six Major Products"

After completing the necessary approval procedures, QLGN will be renamed CXC 10. Here, C, X, and C 10 represent the company's "three driving forces": the first C represents the Crypto ecological token system; X represents the DeAI Agent of the parent exchange; C 10 represents the company's value ballast.

CXC 10 will fully focus on the Crypto "three driving forces" and Web 3 ecological construction, aiming to become the first US stock that connects Web 2 with Web 3 and AI with Crypto.

First driving force: C 10 (value ballast), which includes three major products: C 10 Treasury, C 10 Index, and the planned C 10 ETF.

Second driving force: BesTrade DeAI Agent (user and value hub). As the core AI Agent of the parent exchange, it helps users find optimal trading paths and results.

Third driving force: Ecological token system (value maximization carrier), which includes two major products: C 10 stablecoin and EAI + Crypto "dual bridge" RWA products.

"I believe that as these products gradually land, FFAI will truly become a company with 'dual flywheel resonance' and 'dual bridge empowerment'—connecting EAI with Crypto and linking Web 2 with Web 3," said FF founder and Co-CEO Jia Yueting. "They will unleash nuclear explosion-level potential, helping to maximize the value of shareholders, investors, and blockchain community members."

C 10 Treasury has a floating profit of 7%, with 20% active allocation significantly outperforming the C 10 index

As of now, C 10 Treasury has completed approximately $10 million in crypto asset allocation. As of 6 PM on September 18 (Pacific Time), C 10 Treasury has a floating profit of about 7%, outperforming the C 10 index overall. Notably, the 20% active allocation has performed strongly, significantly outperforming the market (C 10 index). All four digital assets selected for the 20% active allocation have outperformed the C 10 index, and all outperforming crypto assets were actively chosen.

Latest Developments of FX Super One

The company unveiled more details about FX Super One MPV at the 919 event. It launched the highlights of the EAI Space front-row feature, based on EAI OS, with the cabin supporting multimodal interactions such as voice, gestures, and even eye movements, creating a unique EAI Space—a new generation of super AI intelligent cabin, making FX Super One your Vehicle EAI Agent.

FX Super One completed its first global product launch on July 17 this year, and the project is progressing as planned, aiming to roll out the first vehicle in the US by the end of the year. The company plans to hold the ultimate Super One launch in the Middle East at the end of October, with the first batch of deliveries expected to start in November.

At this event, FX also showcased EAI Space in more depth, focusing on demonstrating human-machine interaction capabilities. Through the vertical integration of hardware, software, and applications, FX Super One provides users with a personalized, multimodal, immersive EAI Space experience.

Hardware: The driver's side is equipped with a 26-inch SR-HUD simulated reality head-up display, a 12.3-inch 2K full LCD instrument panel, and a 15.6-inch 2.5K control/information entertainment screen, balancing driving control and entertainment. The passenger side is equipped with an independent 15.6-inch 2.5K control/entertainment screen, seamlessly extending work and life. The two 15.6-inch 2.5K screens are certified by Rhine TÜV for low blue light and flicker-free, providing immersion while protecting the eyes.

Software: EAI OS offers a truly intuitive experience, supporting spatial and multimodal interactions such as voice, gestures, and eye movements. With the help of generative AI, the system understands context and adapts to preferences, providing personalized services to drivers and passengers, and achieving multi-screen collaboration.

Applications: FF EAI deeply integrates commonly used applications and services, building a unified cross-platform AI ecosystem. Mobile devices, in-car systems, and cloud data collaborate seamlessly, helping users switch naturally between work and life, and extending this smoothly to every trip.

FX Super One is based on the FF EAI embodied intelligence 6 x 4 technical architecture, reshaping the way humans connect with vehicles, representing a significant leap into the AIEV era. FX Super One will redefine high-end business travel perceptions, reconstruct in-car space experiences, and change the way people connect with family, work, and ideals.

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