Faraday Future Shifts Focus to Crypto and AI Amid EV Struggles

Faraday Future, the cash-strapped electric vehicle startup, is pivoting toward cryptocurrency and artificial intelligence as its core automotive business falters. The company has produced just 16 units of its flagship FF 91 vehicle and now seeks to reinvent itself through digital asset investments and embodied AI integration.

The firm announced its C10 Treasury product—a weighted basket of the top 10 cryptocurrencies excluding stablecoins—with an 80% passive index allocation and 20% actively managed portion. Faraday aims to raise $500 million to $1 billion for initial crypto purchases, beginning with a $30 million deployment. Staking yields of 3%-5% will fund stock buybacks and innovation initiatives.

"The next decade could be a super long bull cycle for the crypto market," said FF Co-Creation Officer Ian Calderon, framing the MOVE as a strategic bridge between short-cycle crypto ventures and long-term AI development for EVs. The pivot reflects growing institutional recognition of crypto's dual role as both treasury asset and innovation funding mechanism.