Faraday Future Revs Up Crypto Adoption: $30M Treasury & Tokenized Car Sales on the Horizon
Faraday Future just dropped a bombshell—the EV maker's diving headfirst into crypto with a $30 million treasury play and plans to tokenize car sales. Buckle up.
Why it matters: This isn't just another corporate crypto flirtation. That $30M war chest signals serious intent, while tokenized vehicles could rewrite auto financing rules (or become another blockchain gimmick collecting dust).
The kicker: Watch how traditional lenders react when Faraday starts slicing up luxury EVs into tradeable digital shards—Wall Street hates nothing more than being bypassed by Silicon Valley code.
Faraday Future Unveils C10 Index to Track Top 10 Cryptos
Faraday Future said it will introduce a “C10 Index,” a market-cap-weighted basket of the top 10 cryptocurrencies, excluding stablecoins.
The company is also exploring the launch of an exchange-traded fund (ETF) and intends to expand its holdings to between $500 million and $1 billion in digital assets.
The treasury is designed to generate returns through staking yields, which the company says can help finance innovation, potential stock buybacks, and further asset growth.
In a MOVE that connects crypto directly to its automotive business, Faraday Future announced the upcoming launch of an “EAI Vehicle Chain.”
Today, Faraday Future launched the first-ever US-listed company #C10 Treasury plan and introduced the #C10 Index.
Phase 1: $500M–$1B allocation, with the first $30M expected to start next week — long-term vision: $10B scale.
This marks the start of our “EAI + Crypto”… pic.twitter.com/EE59z5RUVh
The system will support tokenized car sales and deposits in cryptocurrency. EAI, or Embodied AI, refers to artificial intelligence integrated into physical products such as vehicles.
California State Treasurer Fiona Ma endorsed the plan, calling it a strategy that could “boost our economy, create high-quality jobs, attract top-tier investment, and advance sustainable development worldwide.”
The crypto push comes as Faraday Future attempts to reset after years of setbacks. The company scrapped a $1 billion factory in Nevada in 2016, delaying production of its flagship FF91 EV.
As of January, it had delivered only 16 vehicles and recently shifted to rebadging Chinese-made vans.
Faraday Future also disclosed in July that the SEC issued Wells notices to its founder Jia Yueting and president Jerry Wang following a three-year probe into alleged misstatements during its 2021 SPAC merger.
Shares in Faraday Future (FFAI) closed at $2.77 on Friday, down 7.6% for the day but still up 75% in the past six months, leaving year-to-date gains at 14%, according to Google Finance.
Companies Expand Bitcoin Holdings
Last week, Thumzup Media Corporation, a social media marketing firm that pivoted into crypto investments earlier this year, announced plans to ramp up its digital asset strategy following a $50 million capital raise.
Thumzup’s expansion reflects a broader trend of public companies boosting their crypto treasuries.
Stockholm-based health technology firm H100 Group revealed Wednesday ithad purchased an additional 45.8 BTC, bringing its total to 809.1 BTC.
H100 said it paid an average of under 1.14 million Swedish krona ($119,090) per Bitcoin, for a total outlay of 52.18 million krona ($5.47 million).
The purchase ranks H100 as the 42nd largest public company Bitcoin holder globally and the fourth largest in the EU, trailing Germany’s Bitcoin Group SE, which holds 3,605 BTC, according to BitcoinTreasuries.net.
