Core Insights - Qualigen Therapeutics, Inc. has successfully closed a $41 million private investment in public equity (PIPE) financing, led by Faraday Future Intelligent Electric Inc. and other prominent investors [1][2] - The financing will primarily support the establishment of a new crypto business venture, CXC10, as the company transitions into a Web3 and crypto-focused entity [2][3] Investment Details - Faraday Future has invested $30 million in Qualigen's common and preferred stock, equating to approximately 55% of pro forma beneficial ownership [2] - YT Jia, the Founder and Global Co-CEO of Faraday Future, has personally invested around $4 million, representing about 7% ownership, and has committed to a two-year voluntary lockup [2] Strategic Transformation - Qualigen is undergoing a strategic transformation to rebrand as CXC10, focusing on bridging Web2 and Web3, as well as integrating AI and crypto [3] - The company aims to develop three growth engines with six key products under the CXC10 brand, positioning itself as a leading U.S. public company in the crypto space [3][7] Leadership Changes - As part of the investment, Jerry Wang has joined Qualigen as Co-CEO, while YT Jia will serve as Chief Advisor [4] - Koti Meka, CFO of Faraday Future, has been appointed as CFO of Qualigen [4] Future Plans - The company plans to enhance its strategic focus, strengthen technical capabilities, and adopt an open ecosystem approach to achieve its goals [5]