QLGN) to Accelerate its Dual-Flywheel & Dual-Bridge Eco Strategy

QLGN is expected to rebrand as CXC10 soon, reflecting its new strategic direction around crypto and web3 business.

LOS ANGELES, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future”, “FF” or “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced the successful closing of its announced strategic investment in Qualigen Therapeutics, Inc. (NASDAQ: QLGN), a public company establishing new crypto and Web3-related adventures.

The total investment amounts to approximately $41 million, led by FF with approximately $30 million, and an additional $4 million invested by FF Founder and Global Co-CEO YT Jia, together with other investors including SIGN Foundation, a blockchain technology company backed by Binance Labs, Sequoia Capital (US, India, China), IDG, and Circle.

With the closing, FF now holds approximately 55% of QLGN’s pro forma common stock, while YT Jia holds approximately 7%, which he has voluntarily committed to lock up for two years as a cornerstone investor.

The strategic investment was first announced during FF’s annual 919 Futurist Day on September 19, 2025, and represents a critical milestone in executing FF’s “Dual-Flywheel & Dual-Bridge” Eco-Strategy.

“With this investment officially closed, Faraday Future is entering a new phase in executing its global eco-strategy that links EAI and crypto, Web2 and Web3,” said YT Jia, Founder and Global Co-CEO of Faraday Future. “This powerful ecosystem will create new value for both stockholders and token holders across FF and CXC10.”

ABOUT FARADAY FUTURE

Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company’s mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future’s flagship model, the FF 91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit https://www.ff.com/us/