Faraday Future Founder and Co-CEO YT Jia Shares Weekly Investor Update: FF Officially Started the Spinoff Plan for the Crypto Flywheel, a Second Independently Listed Company, to be Named CXC10

Core Insights - The company is preparing for its 919 event, where it will provide updates on its growth engines, including the C10 Treasury and the deployment strategy for FF EAI Vehicle Chain products [1] - The company has officially initiated a spin-off plan for its Crypto flywheel, aiming to establish a second independent listed company named CXC10, which will be initially controlled by FFAI [2][3] Spin-off Strategy - The spin-off of CXC10 is designed to address stockholder concerns by allowing CXC10 to raise capital independently, thus preventing dilution of FFAI stock [4] - The spin-off will enable each team to focus on their core businesses, with FFAI concentrating on the delivery progress of FF and FX products [4] - The C10 Treasury has completed approximately $10 million in crypto asset allocation, showing strong performance and positive mark-to-market results [5] Financial Performance - The actively managed allocation of 20% has yielded unrealized gains exceeding the C10 Index, with all core picks outperforming the broader index [6] - The company has successfully exited its one-year monitoring period on Nasdaq, restoring its normal listed company status, which is a significant achievement compared to many companies that remain in monitoring [9] Product Development - Significant progress has been made in product and technology, particularly for the FX Super One, with safety and restraint system validation underway and supply chain onboarding accelerating [7] - Delivery support for FX Super One in the Middle East is on schedule, with key software upgrades validated for the final launch at the end of October [8] - The new software update for FF 91 2.0 has improved the driving experience by refining the braking interface and sensor accuracy [8]