On September 20, 2025, at its Los Angeles headquarters, Faraday Future (FFAI) made a significant announcement: it would make a strategic investment of $41 million in Qualigen Therapeutics (QLGN), a company listed on Nasdaq. Alongside this investment, the two companies also launched a collaborative venture in the Crypto and Web3 sectors.

This investment initiative is spearheaded by FF, with key participation from investors such as Jia Yueting. According to the plan, FF is set to invest around $30 million, which will enable it to acquire approximately 55% of QLGN's outstanding shares. Meanwhile, Jia Yueting will personally contribute $4 million, gaining roughly 7% of the shares. Both parties have agreed to a voluntary two-year lock-up period for their shares.

Upon completion of the investment, FF and Jia Yueting will jointly hold approximately 62% of QLGN's shares. FF will send a management team to oversee operations, with Jia Yueting taking on the role of chief advisor. Additionally, FF's Global President, Jerry Wang, will serve as Co-CEO of the combined entity. Following the investment, QLGN will undergo a rebranding and be renamed CXC10. The new company will concentrate on three core areas within the Crypto space and focus on building a robust Web3 ecosystem.