COINOTAG reported on September 29 that Jia Yueting stated Faraday Future’s $30 million investment in Qualigen Therapeutics (QLGN) has more than doubled the company’s market value, according to the post.
On September 20, Faraday Future announced a strategic $41 million PIPE investment in Qualigen Therapeutics, with plans to rebrand the firm as CXC10 and transition toward a crypto and Web3 business platform. The disclosed investor group includes Faraday Future, Jia Yueting personally and Sign, a blockchain company focused on on-chain public infrastructure such as digital identity verification and token distribution.
Market participants should review formal filings and public disclosures for confirmed terms and timelines, as the transaction’s regulatory and operational considerations are material to valuation and any prospective crypto platform execution.