TLDR
- Faraday Future plans a $10 billion crypto strategy starting with $30 million purchase.
The company aims to create a crypto treasury and explore tokenized vehicle sales.
Faraday Future will launch a C10 Index to track the top 10 cryptocurrencies.
The EV startup faces challenges, including limited vehicle deliveries and SEC scrutiny.
Faraday Future, an electric vehicle (EV) startup, announced a major move into the cryptocurrency space, revealing plans for a multibillion-dollar crypto strategy. The company intends to start by purchasing $30 million worth of cryptocurrency, with aspirations to scale the investment to tens of billions over time.
This initiative includes launching a crypto treasury, exploring tokenized vehicle sales, and even a potential exchange-traded fund (ETF). The announcement marks a significant pivot for the company as it faces production challenges and regulatory scrutiny.
Faraday Future Crypto Treasury and Index Plans
As part of its new strategy, Faraday Future will create the “C10 Treasury,” a product designed to manage the company’s cryptocurrency investments.
The company will begin by purchasing $30 million worth of digital assets, with plans to increase this amount to $500 million or more in the near future. Faraday Future hopes to expand this initiative to a $10 billion treasury over the next decade.
Today, Faraday Future launched the first-ever US-listed company #C10 Treasury plan and introduced the #C10 Index.
Phase 1: $500M–$1B allocation, with the first $30M expected to start next week — long-term vision: $10B scale.
This marks the start of our “EAI + Crypto”… pic.twitter.com/EE59z5RUVh— Faraday Future (@FaradayFuture) August 17, 2025
In addition to the treasury, Faraday Future will launch the “C10 Index.” This market-cap-weighted index will track the top 10 cryptocurrencies, excluding stablecoins. The company’s goal is to build a basket fund that provides exposure to the most prominent digital assets, which will then serve as a basis for a potential crypto ETF. This approach reflects the growing trend of publicly listed companies seeking crypto exposure.
Tokenized Vehicle Sales and Crypto-Based Deposits
In a unique application of blockchain technology, Faraday Future also plans to introduce a system for tokenized vehicle sales. The company will launch the “EAI Vehicle Chain,” a platform that will allow customers to make crypto-based deposits for vehicle purchases.
This initiative blends the world of electric vehicles with cryptocurrency, reflecting Faraday Future’s ambition to integrate both sectors.
EAI, which stands for Embodied AI, refers to artificial intelligence embedded within physical objects, such as cars. Faraday Future aims to incorporate this concept into its vehicle sales process, using blockchain technology to facilitate transactions. California State Treasurer Fiona Ma has endorsed the company’s efforts, highlighting the potential to boost the economy and create new jobs through this innovative approach.
Faraday Future’s Challenges Amid Crypto Pivot
While the company’s crypto strategy signals an ambitious future, it comes at a difficult time for Faraday Future. The startup has faced significant delays in vehicle production, with only 16 cars delivered as of January 2025. Faraday Future’s struggles include halting a $1 billion EV factory in Nevada in 2016, which led to delays in the production of its flagship model, the FF91. The company has since shifted its focus to rebadging Chinese-made electric vans, deviating from its initial luxury EV plans.
In addition to production challenges, Faraday Future is under scrutiny from the U.S. Securities and Exchange Commission (SEC). The SEC has sent a Wells notice to the company’s founder, Jia Yueting, and its president, Jerry Wang, after a three-year fraud investigation into their 2021 SPAC merger. This legal threat looms over the company as it attempts to pivot toward the cryptocurrency sector.
Despite these hurdles, Faraday Future’s stock has shown some positive performance. The company’s shares have gained 75% over the past six months, with a 14% increase year-to-date. However, the stock dropped 7.6% in one trading session, highlighting the volatility surrounding the company’s future.
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