In a world where the roads are paved with good intentions and broken promises, Faraday Future, the once-promising electric vehicle (EV) startup, finds itself at a crossroads. With its EV dreams sputtering like an old jalopy on its last fumes, the company is making a hard turn into the wild and woolly worlds of crypto and AI. 🤠
- Faraday Future is betting big on crypto and embodied AI, hoping to steer clear of bankruptcy lane.
- Their new crypto treasury might just be the cash cow they’ve been chasing down the highway.
- So far, their production line has only spat out 16 FF 91s, more like a trickle than a flood.
On a Sunday, much like any other, but with a bit more digital glitter, Faraday Future announced the launch of a treasury product and a newfound love for embodied AI. It’s like they decided to swap their electric engines for digital ones, hoping to catch the next big wave. 🌊
The C10 Treasury product, a fancy name for a basket of the top 10 crypto assets (minus those pesky stablecoins), is set to be the new star of their show. They’re allocating 80% of the funds to follow the index, while the remaining 20% will be actively managed for those extra juicy returns. 🍒
Aiming for an initial crypto asset purchase of anywhere between $500 million to $1 billion, with a modest start of $30 million, Faraday Future is hoping to rake in enough staking yields to fund stock buybacks and sprinkle some innovation dust on their core business. 💰✨
Faraday Future’s Business Struggles
With the EV market getting more crowded than a freeway during rush hour, Faraday Future is looking to crypto and AI to revitalize their brand. Their plan? Combine the short-term gains of crypto with the long-term vision of AI in electric vehicles. It’s like trying to drive a car with one foot on the gas and the other on the brake. 🙃
“The next decade could be a super long bull cycle for the crypto market,” said Ian Calderon, FF Co-Creation Officer, with a twinkle in his eye that suggested he might have already bought into the hype. “FF is building a dual-engine circular growth system – combining the long-cycle, high-value EAI EV ecosystem with the short-cycle, high-velocity Crypto ecosystem. These two flywheels will empower each other, redefining what’s possible in mobility and financial innovation.”
Once hailed as a potential Tesla killer, Faraday Future’s production numbers are more akin to a slow-motion car crash. By January 2025, they had only managed to roll out 16 of their flagship FF 91 vehicles, most of which ended up in the hands of employees and loyal supporters. It’s a far cry from the fleet they once dreamed of. 🚗…
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2025-08-18 23:17