Odaily Planet Daily reported that Jia Yueting wrote that Faraday Future's $30 million investment in Qualigen Therapeutics (QLGN) has more than doubled its market value. The strategic investment is expected to be completed this week, and the encryption flywheel is accelerating.

On September 20th, Faraday Future announced a strategic investment in Qualigen Therapeutics (NASDAQ: QLGN) through a $41 million PIPE transaction. Qualigen Therapeutics will be renamed CXC10 and transformed into a crypto and Web 3 business platform. The strong investor lineup includes Faraday Future and Jia Yueting personally, as well as Sign, a blockchain technology company that builds on-chain public infrastructure for global governments and businesses, providing security solutions from digital identity verification to token distribution.