Faraday Future founder Jia Yueting announced that the company's $30 million investment in Qualigen Therapeutics is set to finalize this week. This strategic move has already more than doubled Qualigen's market value. The investment is part of a broader plan to transform Qualigen into a cryptocurrency and Web3 business platform, with a rebranding to CXC10. Earlier reports indicated that Faraday Future intends to invest a total of $41 million in Qualigen through a private investment in public equity (PIPE) to support this transition.
Jia Yueting's $30M Investment in Qualigen Therapeutics to Conclude This Week
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