California-based electric vehicle (EV) startup Faraday Future officially launched a $10 billion strategy that brings together its Embodied AI (EAI) platform and the crypto economy. It announced the launch of the “EAI + Crypto” Dual-Flywheel & Dual-Bridge Ecosystem Strategy on August 17 at an event in Pebble Beach.
Faraday Future is connecting its smart EV operations with a Web3-powered financial system to build a two-way, self-sustaining loop that leverages the long-term value of AI-driven EVs and the high-velocity potential of digital assets.
A Real-Time Crypto Index and A Treasury to Back It
In a press release, the firm revealed its plan to launch a “Crypto 10” treasury product, by investing up between $500 million and $1 billion in digital assets, and explore tokenized vehicle sales. It’s starting with an initial $30 million crypto investment, but has a vision to scale up to $10 billion.
“The next decade could be a super long bull cycle for the crypto market,” said Ian Calderon, Faraday’s Co-Creation Officer and founding board member of the California Blockchain Working Group.
Moreover, the company is also launching a C10 Index, a market-cap-weighted crypto basket tracking the top 10 non-stablecoin digital assets, intending to develop a full-fledged exchange-traded fund (ETF). The company also has plans to launch the “EAI Vehicle Chain,” a blockchain-based platform for tokenized vehicle sales and crypto-backed deposits.
According to the company, the strategy could generate staking yields and other crypto-native returns to help fund vehicle development, share buybacks, and general corporate growth. It’s a financial experiment as much as a technological one.
California State Treasurer Fiona Ma also offered public support, calling the plan a bold and forward-thinking move that could create high-quality jobs, attract global capital, and advance sustainable economic development.
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