Faraday Future Announced a Total Strategic Investment of $41 million in Qualigen Therapeutics, Inc. (NASDAQ: QLGN) During its Annual 919 Event, for its Crypto Business Focusing on Three Growth Engines

Investment Announcement - Faraday Future announced a strategic investment of approximately $41 million in Qualigen Therapeutics, Inc. (NASDAQ: QLGN) during its annual 919 event, focusing on its crypto business and three growth engines [1][4][21] - The investment will be led by Faraday Future, with founder YT Jia contributing approximately $4 million through an FFGP loan, which includes a two-year lockup on his shares [6][9][10] Growth Strategy - Qualigen Therapeutics is expected to rebrand as CXC10, targeting to become a leading U.S. public company that bridges Web2 and Web3, as well as AI and crypto [11][21] - The three growth engines include: 1. C10, the value anchor, which encompasses the C10 Treasury, C10 Index, and a potential C10 ETF 2. BesTrade DeAI Agent, an AI-driven product to assist users in trading 3. Ecosystem tokens, which include a stablecoin and a dual-bridge product [12][13][21] Financial Performance - As of September 18, the C10 Treasury had completed about $10 million in crypto asset allocations, delivering an unrealized gain of around 7%, outperforming the C10 index [14][21] Product Development - Faraday Future unveiled its ultra-wide dual-screen panoramic display for the FX Super One MPV at the 919 event, designed to enhance both driving and entertainment experiences [3][21] - The FX Super One is on track for its first vehicle to roll off the line by year-end in the U.S., with the Middle East launch expected by the end of October [16][21]