Faraday Future has completed approximately US$10 million in crypto asset allocation, and its spin-off of Web3 company CXC10 has been approved by the board of directors

PANews reported on September 15 that according to Globenewswire, Faraday Future founder and global co-CEO Jia Yueting released a performance update, which disclosed that the company officially launched the spin-off plan of cryptocurrency flywheel, and will promote the establishment of the second independently listed Web3 company "CXC10" as soon as possible. The target will be held by Faraday Future in the early stage, and the spin-off plan has been approved by the board of directors. In addition, Faraday Future also disclosed that its cryptocurrency C10 Treasury has completed crypto assets allocation of approximately US$10 million.