Faraday Future spin-off of Web3 CXC10 is approved by the board of directors

According to ChainCatcher, according to market news, 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 C10Treasury has completed approximately US$10 million in crypto asset allocation.