Faraday Future Initiates Cryptocurrency Ecosystem Spin-Off Plan

According to BlockBeats, Faraday Future's founder and co-CEO, Jia Yueting, announced in a weekly investor update that the company has officially launched a plan to spin off its cryptocurrency ecosystem. This initiative aims to rapidly establish a second independent publicly listed company, CXC10, initially held by Faraday Future, creating a dual-listed company structure. The board of directors has approved the spin-off plan, and further details will be disclosed at the annual shareholders' meeting on September 19. Additionally, the C10 treasury has completed a cryptocurrency asset allocation of approximately $10 million.