What is going on with Ideanomics?

I've been hearing a lot about Ideanomics lately, but I'm still not quite sure what's going on with the company. Can you provide me with a brief overview of what Ideanomics does, and what some of the recent developments have been? I'm particularly interested in understanding how the company's business model works, and what sets it apart from other players in the cryptocurrency and finance space. Also, what are some of the challenges that Ideanomics is currently facing, and how is the company addressing them?