Faraday Future has allocated approximately $10 million in crypto assets as part of its strategic financial initiatives. The company announced the launch of its cryptocurrency spin-off plan, "Flywheel," and the establishment of a new Web3 company, "CXC10." The board of directors has approved the spin-off, which aims to position CXC10 as an independently listed entity initially controlled by Faraday Future. This move marks a significant step in the company's expansion into the Web3 space.