TLDR
- Faraday Future plans to initially purchase $30 million in cryptocurrency, with goals to expand to “tens of billions”
- The EV startup is creating a “C10 Treasury” and “C10 Index” tracking the top 10 cryptocurrencies excluding stablecoins
- The company is exploring launching a crypto ETF and implementing tokenized vehicle sales
- California State Treasurer Fiona Ma endorsed the plan, citing potential economic benefits
- Faraday Future has faced challenges including production delays and SEC investigations
Electric vehicle startup Faraday Future has announced a major push into cryptocurrency, revealing plans for a multibillion-dollar strategy that includes creating a crypto treasury, launching a crypto index, and exploring tokenized vehicle sales.
The Nasdaq-listed company stated on August 17, 2025, that it will create a “C10 (Crypto 10) Treasury” product. Faraday plans to initially purchase $30 million worth of cryptocurrency, with ambitions to grow this investment to “tens of billions” in size over time.
During the announcement at Monterey Car Week, the company introduced what it calls the “EAI + Crypto” Dual-Flywheel & Dual-Bridge Ecosystem Strategy. This plan aims to integrate AI-driven electric vehicles with Web3 technologies and cryptocurrency investments.
Ian Calderon, Faraday Future co-creation officer and founding board member of the California Blockchain Working Group, expressed optimism about the timing of this move. “The next decade could be a super long bull cycle for the crypto market,” Calderon stated.
The company is developing a “C10 Index,” described as a market-cap-weighted basket fund that will track the top 10 cryptocurrency assets, excluding stablecoins. In addition to the index, Faraday Future is exploring the creation of an exchange-traded fund (ETF) based on cryptocurrencies.
Today, Faraday Future launched the first-ever US-listed company #C10 Treasury plan and introduced the #C10 Index.
Phase 1: $500M–$1B allocation, with the first $30M expected to start next week — long-term vision: $10B scale.
This marks the start of our “EAI + Crypto”… pic.twitter.com/EE59z5RUVh— Faraday Future (@FaradayFuture) August 17, 2025
Expanding Investment Plans
As part of its strategy, Faraday Future aims to purchase between $500 million and $1 billion in cryptocurrencies, beginning with its initial $30 million investment scheduled for next week. The long-term vision could see these investments scale to $10 billion.
The company explained that its treasury is designed to provide sustainable returns through staking yields. These returns could potentially “fund product innovation, potential stock buybacks, and further asset growth,” according to company materials.
Faraday Future also revealed plans to launch an “EAI Vehicle Chain” for tokenized vehicle sales and crypto-based deposits. EAI, which stands for Embodied AI, refers to artificial intelligence physically integrated into real-world objects, such as cars.
The crypto initiative has received support from California State Treasurer Fiona Ma. She endorsed the plan, stating it “has the potential to boost our economy, create high-quality jobs, attract top-tier investment, and advance sustainable development worldwide.”
This strategy seeks to connect the electric vehicle industry with Web3 capital. The company described its approach as creating “mutual amplification of shareholder and industrial value through separate but interconnected EV and crypto business entities.”
Company Challenges
The pivot to cryptocurrency comes during a transitional period for Faraday Future. The company has faced several challenges in recent years, including production delays and regulatory issues.
In 2016, Faraday Future halted work on a $1 billion electric vehicle factory in Nevada. This decision caused delays in the production of its flagship vehicle, the FF91. As of January, the EV startup had reportedly delivered only 16 vehicles.
Recent reports indicate that Faraday Future has pivoted to rebadging Chinese-made electric vans. This shift comes as the company struggles to ramp up production of its own vehicles.
In July, Faraday Future disclosed that the US Securities and Exchange Commission sent a Wells notice to its founder, Jia Yueting, and president, Jerry Wang. This notice, which threatens enforcement action, followed a three-year fraud investigation focused on allegedly false statements made during the company’s 2021 SPAC merger.
Shares in Faraday Future (FFAI) ended trading on Friday down 7.6% at $2.77. Despite this recent drop, the company’s stock has performed well in 2025, gaining 75% over the past six months to bring its year-to-date gains to 14%, according to Google Finance.
The company emphasized that its new crypto strategy will prioritize transparency, compliance, and innovation as it works to blend mobility with blockchain applications.
