Jia Yueting Commences Debt Repayment in Accordance with Chinese Law, Pledges to Shoulder Responsibilities Until the End
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Author:小编   

On September 20, 2025, during its 919 Futurist Day & Investor Community Day event held at its Los Angeles headquarters, Faraday Future (FF) made a significant announcement. It declared that it would strategically pour around $41 million into Qualigen Therapeutics (QLGN), a company listed on Nasdaq, and forge a Crypto and Web3 business partnership.

This investment is spearheaded by FF, with Jia Yueting taking the lead as the cornerstone investor. He is investing $4 million (via a loan to the partner company FFGP) and has voluntarily agreed to lock up his shares for a period of two years. Once the transaction is finalized, FF will own roughly 55% of QLGN's shares. Meanwhile, Jia Yueting will personally hold about 7%, bringing the combined stake of both parties to approximately 62%. FF Global President Jerry Wang is set to serve as the co-CEO of QLGN, and Jia Yueting has been appointed as the chief advisor. QLGN will undergo a rebranding and be renamed CXC10. It will concentrate on developing the 'Three Pillars' of Crypto business and the Web3 ecosystem, with the ambition of becoming the first U.S.-listed stock that integrates web2+web3 and AI+Crypto.

In the same vein, Jia Yueting announced the creation of a second creditor trust. He has earmarked 50% of the equity incentives he received from his promotion to Co-CEO and half of the investment returns for debt repayment under Chinese law. The other half of the investment returns will be allocated to vehicle manufacturing. Furthermore, FF divulged more details about the FX Super One. It introduced the EAI Space front-row feature, aiming to roll out its first vehicle in the U.S. before the end of the year. The ultimate launch in the Middle East is slated for late October, with deliveries in the region set to commence by late November.