Author: 1912212.eth, Foresight News

On August 17, Faraday Future (FF), founded by Jia Yueting, announced the launch of the "C10 Index" and the "C10 Treasury" product based on this index, officially entering the cryptocurrency space. As the first basket index treasury plan for crypto assets initiated by a publicly listed company in the United States, it has attracted considerable market attention. FF stated that this strategy aims to build a dual-flywheel and dual-bridge ecosystem of "EAI + Crypto," deeply integrating artificial intelligence mobility (EAI) with Web3 technology to promote the comprehensive Web3 transformation of the mobility industry.

The C10 Index tracks the top ten cryptocurrencies globally (excluding stablecoins), including mainstream assets like Bitcoin, Ethereum, and Solana.

On the other hand, the C10 Treasury adopts an investment model of 80% passive and 20% active, ensuring sustainable returns. According to its official website, FF will use special financing funds specifically to purchase crypto assets, implying that the ability to raise funds is crucial. If fundraising fails, everything will be in vain. Thus, FF needs to raise funds from the market and use that capital to purchase crypto assets. The first phase aims to acquire $500 million to $1 billion in crypto assets after securing the necessary funds, with an initial allocation of $30 million expected to start as early as this week. The long-term vision is to expand to a scale of $10 billion, achieving compound growth through staking returns.

FF is establishing a wholly-owned subsidiary named FFAI Crypto Treasury and Bridging Holdings Inc. to conduct cryptocurrency business.

FF officially stated in the announcement that this strategy aims to optimize Faraday Future's profit and loss statement, balance sheet, and cash flow situation by using on-chain assets as both reserves and flexible capital. This strategy enables Faraday Future to obtain stable staking returns, potentially reducing reliance on high-cost financing and enhancing net asset value and structure. Faraday Future's cryptocurrency business and electric vehicle business plan to operate under independent legal and financial frameworks to promote risk isolation, operational independence, and asset transparency. Digital assets will be held by third-party custodians and can be fully verified on-chain.

Overall, the returns from the C10 Treasury can be used to fund product innovation, stock buybacks, and even apply for a crypto ETF license. This is not only a financial strategy but also an ecological layout: FF plans to put EAI EV assets on-chain, creating application scenarios that combine mobility, blockchain, and crypto. Jia Yueting's personal experience also influenced this decision—after the collapse of LeEco, he understands the importance of cash flow, and this shift towards crypto may inject a "compound effect" into FF, positioning it as the "crypto version of the S&P 500."

Additionally, amid the global crypto boom, this move could enhance FF's brand exposure and attract crypto investors. FF has also enlisted some local dignitaries to "endorse" its crypto asset strategy, with California State Treasurer Fiona Ma delivering a speech via video to express her support for the company's new strategy.

In the first half of 2025, FF plans to stabilize operations gradually through equity financing and partner investments. The launch of this crypto strategy is seen as Jia Yueting's new attempt at a "comeback," promoting it on social media as a move that will "amplify shareholder and industry value."

Its stock price has risen from a low of $0.83 at the beginning of the year to a high of $3.60, an increase of over 400%.

From LeEco to Faraday Future

Jia Yueting's entrepreneurial journey has been tumultuous. During the LeEco era, he built an internet empire based on the concept of "ecological inversion," but in 2017, LeEco's cash flow crisis led him to accumulate massive debts and flee to the U.S. that same year to avoid creditors. He fell from a successful entrepreneur to a widely criticized "debtor."

Afterward, he repeatedly promised to "return to the country next week" but failed to deliver, facing public scrutiny.

In 2019, Jia Yueting filed for personal bankruptcy reorganization in the U.S. to resolve over $3.6 billion in debt. In recent years, he has served as the founder and co-CEO of FF, focusing on the company's revival. FF has faced challenges such as production delays and funding shortages, but began delivering the FF 91 model in 2023 and plans to launch the more affordable FF 81 series in 2024. Despite significant stock price volatility and a temporary reduction in market value, Jia Yueting insists on positioning FF as a "disruptor," emphasizing the integration of AI and electric mobility.

The electric vehicle industry is highly competitive, dominated by giants like Tesla and Rivian, and FF needs to innovate to break through. FF is seeking diversified financing channels to support high R&D costs. Jia Yueting stated that the "dual-flywheel" strategy will connect the electric vehicle industry with crypto capital, creating a positive cycle through the appreciation of crypto assets.

Notably, in July of this year, FF announced a strategic partnership with the digital asset infrastructure platform HabitTrade to enter the RWA market to tokenize FF assets. In simple terms, this means using the promise of selling cars to "exchange for USDT financing," with a commitment to return to investors in the future in the form of "revenue rights tokens." However, the core issue returns to: when will FF be able to deliver the cars? In the 10K form submitted to the SEC on March 31, 2025, FF stated that there are uncertainties and risks related to the company's debt and product delivery.

Jia Yueting's recent bold moves in RWA and crypto asset treasury face risks: the crypto market is highly volatile, and if FF's cash flow issues arise again, it could exacerbate the debt burden. However, if successful, it could enhance FF's brand image and promote the cross-border integration of electric vehicles and crypto. Jia Yueting's dreamer label may find new life in the crypto era.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。