Faraday Future intends to spin off crypto flywheel assets into separate company

Faraday Future (FFAI) announced that it is actively preparing to spin off its crypto flywheel assets into a separate existing listed company. The company expects to provide additional details, as available, at the upcoming 919 event. The spin-off plan aims to establish two independent listed systems, FFAI and a new company focusing on the Crypto Flywheel, that will operate independently while forming strategic synergies. C10 & Crypto will be driven by its three engines of core businesses, including C10 Treasury, with the goal of accelerating the realization of its Web3 strategic vision and unlocking its full potential. The company also announced the recent performance of its C10 Treasury, which completed its first two rounds of digital asset allocations over the past two weeks totaling approximately $7M. Within the overall portfolio, the actively managed 20% allocation achieved performance surpassing the C10 Index average. Notably, all four core digital assets selected in C10’s active allocation outperformed the overall C10 Index and every coin that outperformed the Index was proactively chosen.