Faraday Future Announces $30M Crypto Treasury and Tokenized Car Sales Initiative

Electric vehicle manufacturer Faraday Future is making a strategic pivot into digital assets with plans to establish a $30 million cryptocurrency treasury and explore tokenized vehicle sales. The Nasdaq-listed company aims to scale its crypto holdings to between $500 million and $1 billion, leveraging staking yields to fund innovation and potential stock buybacks.

The firm will introduce a 'C10 Index' tracking the top 10 cryptocurrencies by market capitalization, excluding stablecoins. Ian Calderon, Faraday Future's co-creation officer, predicts a 'super long bull cycle for the crypto market' in the coming decade. The initiative includes developing an 'EAI Vehicle Chain' for tokenized car transactions and exploring a crypto ETF.

Despite recent stock volatility, Faraday Future shares have gained 75% over the past six months. The MOVE signals growing institutional interest in blockchain applications beyond traditional finance, particularly in asset tokenization and treasury management.