EV startup Faraday Future plans multibillion-dollar crypto strategy

Faraday Future said it plans to initially buy $30 million worth of crypto, with plans for “tens of billions” more, and is exploring the idea of launching a crypto ETF.

Electric vehicle startup Faraday Future said it plans to launch several crypto-focused initiatives, including creating a crypto treasury and offering tokenized vehicle sales.

Nasdaq-listed Faraday Future said on Sunday that it planned to create a “C10 (Crypto 10) Treasury” product and initially buy $30 million worth of crypto, which it hoped “could reach tens of billions in size.”

“The next decade could be a super long bull cycle for the crypto market,” said Ian Calderon, Faraday Future co-creation officer and founding board member of the California Blockchain Working Group.

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