FF strategically invested $41 million in Nasdaq-listed QLGN, and Jia Yueting invested $4 million. QLGN will be renamed CXC 10 with the goal of building the first US-listed Web 2+Web 3 and EAI+Crypto platform. Jia Yueting established a second creditor trust for the remaining domestic debts to fulfill his responsibilities to the end.

Summarize:

• FF announced this major milestone at its annual "919" event, accelerating the implementation of its "Dual Flywheels & Dual Bridges" ecological strategy to maximize the interests of shareholders.
• FF will invest approximately US$30 million; FF founder and co-CEO Jia Yueting will personally invest US$4 million through a loan from FFGP and will voluntarily lock up his capital for two years as a cornerstone investor.
• The company plans to rename QLGN to CXC 10 after obtaining approval, focusing on the "three pillars and six major products" of Crypto/Web 3 ecosystem construction, and helping CXC 10 become the first US stock to connect Web 2 and Web 3, AI and Crypto.
• C10 Treasury has completed a total of approximately $10 million in crypto asset allocations. As of 4:00 PM (Los Angeles time) on September 18, it had achieved a 7% profit, outperforming the C10 Index overall. The 20% active allocation strategy was particularly successful, outperforming the broader market.
• Jia Yueting no longer has any debts under U.S. law, but a second creditor trust will be established to cover his debts under Chinese law. 50% of the equity incentive he received from being promoted to Co-CEO and half of the proceeds from the $10 million investment after repaying the loan and related costs will be transferred to the trust to repay debts under Chinese law. The remaining half will be used to build cars, and the trust will be fully responsible for the relevant debts. Details on the establishment, operation, and execution of the trust will be announced later.
• The company also unveiled the FX Super One's EAI Space front-seat feature at the 919 event, highlighting the vehicle's personalized, multi-modal, and immersive spatial experience for the driver and front passenger, achieving a better balance between driving and entertainment.
• At the Extraordinary General Meeting (EGM) held today, all proposals except the one related to the name change were approved.

Beijing time, September 20, 2025 (Los Angeles, September 19) - Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) ("Faraday Future", "FF" or the "Company"), a global shared smart electric mobility ecosystem company headquartered in California, USA, announced today at its annual "919" event that the company has made a strategic investment in the listed company Qualigen Therapeutics, Inc. (NASDAQ: QLGN) and initiated Crypto business cooperation.

This investment was led by FF, with participation from FF Founder and Co-CEO Jia Yueting and other investors, including SIGN Foundation, a blockchain technology company backed by Binance Labs, Sequoia Capital, IDG, and Circle. Subject to shareholder approval and other closing conditions, this strategic investment is expected to exceed US$41 million, with the final closing amount subject to final closing.

FF will invest approximately US$30 million for a 55% stake in QLGN. Jia Yueting will personally invest approximately US$4 million through a loan from FFGP for a 7% stake. As a cornerstone investor, Jia Yueting will voluntarily lock up his shares for two years.

Upon completion of the investment, FFAI and I will collectively hold approximately 62% of QLGN's shares. This percentage is based on the number of shares outstanding on the pricing date and reflects the potential impact of this transaction.

FF will gradually assign its management team to carry out related operations. Jia Yueting will serve as Chief Advisor to QLGN, and FF Global President Jerry Wang will serve as Co-CEO. Following the completion of this transaction, FF will have the right to nominate two of the five independent board seats. Following shareholder approval, FF will have the right to nominate four of the seven seats. Currently, a majority of shareholders have signed voting approval agreements.

At the September 19th event, Jia Yueting announced that he would establish a second creditor trust to cover his debts under Chinese law. He will transfer 50% of the equity incentive he received upon becoming Co-CEO, along with half of the proceeds from the $4 million investment after repaying the loan and related costs, to the trust to repay his debts under Chinese law. The remaining half will be used to fund the car project, ensuring he fully fulfills his obligations. Details on the establishment, operation, and execution of this trust will be announced later.

The six major products of the CXC 10 "troika"

After completing the required approvals, QLGN will be renamed CXC 10. C, X, and C 10 represent the company's three pillars: the first C represents the crypto ecosystem token system; X represents the parent exchange's DeAI Agent; and C 10 represents the company's value ballast.

CXC 10 will fully focus on the "three pillars" of Crypto and the construction of the Web 3 ecosystem, aiming to become the first US stock to connect Web 2 and Web 3, as well as AI and Crypto.

The first pillar: C 10 (value ballast), which includes three major products: C 10 Treasury, C 10 Index and the planned C 10 ETF.

The second pillar: BesTrade DeAI Agent (user and value hub). As the core AI agent of the parent exchange, it helps users find optimal trading paths and results.

The third pillar: the ecological Token system (value maximization carrier), which includes two major products: C10 stablecoin and EAI+Crypto "dual bridge" RWA product.

"I believe that with the gradual implementation of these products, FFAI will truly become a company with 'dual flywheel resonance' and 'dual bridge empowerment' - connecting EAI and Crypto, and linking Web 2 and Web 3." said Jia Yueting, FF founder and co-CEO. "They will unleash explosive potential and help maximize the value of shareholders and blockchain users."

C 10 Treasury has achieved a 7% profit. 20% active allocation significantly outperformed the C 10 Index.

To date, C10 Treasury has allocated approximately $10 million to crypto assets. As of 6:00 PM PST on September 18th, C10 Treasury had realized a floating profit of approximately 7%, outperforming the C10 Index overall. Particularly notable was the strong performance of the 20% active allocation, significantly outperforming the broader market (C10 Index). All four digital assets selected for the 20% active allocation outperformed the C10 Index, and all of these outperforming crypto assets were actively selected.

FX Super One Latest Developments

The company unveiled additional details about the FX Super One MPV at its 919 event. The company also debuted the EAI Space front-row feature. Based on the EAI OS, the cockpit supports multimodal interaction via voice, gestures, and even eye movements, creating the unique EAI Space—a next-generation super AI intelligent cockpit—making the FX Super One your vehicle's EAI Agent.

The FX Super One completed its first global product launch on July 17th of this year. The project is progressing as planned, with the goal of rolling off the first car in the United States before the end of the year. The company plans to hold the final launch of the Super One in the Middle East at the end of October, with the first batch of deliveries expected to begin in November .

At the event, FX also showcased EAI Space in greater depth, focusing on its human-computer interaction capabilities. Through the vertical integration of hardware, software, and applications, FX Super One provides users with a personalized, multimodal, and immersive EAI Space experience.

Hardware: The driver's side features a 26-inch SR-HUD head-up display, a 12.3-inch 2K full LCD instrument panel, and a 15.6-inch 2.5K control/infotainment screen, balancing driving control and entertainment. The passenger side features a separate 15.6-inch 2.5K control/infotainment screen, seamlessly connecting work and daily life. Both 15.6-inch 2.5K screens are TÜV Rheinland low blue light and flicker-free certified, ensuring both immersive driving and eye-friendly comfort.

Software: EAI OS provides a truly intuitive experience, supporting spatial and multimodal interactions such as voice, gestures, and eye movements. Leveraging generative AI, the system understands context and adapts to preferences, providing personalized services to drivers and passengers and enabling multi-screen collaboration.

Applications: FF EAI deeply connects users' commonly used applications and services, building a unified cross-platform AI ecosystem. Mobile devices, in-vehicle systems, and cloud data seamlessly collaborate, helping users transition naturally between work and life, extending this seamless experience to every trip.

Based on FF EAI's embodied intelligence 6 x 4 technology architecture, the FX Super One reshapes the way people connect with vehicles, representing a significant leap forward in the AIEV era. The FX Super One will reshape the perception of high-end business travel, reimagine the in-car spatial experience, and transform how people connect with family, work, and their dreams.