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Jia Yueting: The encryption flywheel is accelerating, and the $30 million investment in QLGN will be completed this week.
ChainCatcher news, Jia Yueting stated that Faraday Future's $30 million investment in Qualigen Therapeutics (QLGN) has more than doubled its market capitalization, and this strategic investment is expected to be completed this week, with the encryption flywheel accelerating. On September 20, Faraday Future announced that it would strategically invest in Qualigen Therapeutics (NASDAQ: QLGN) through a $41 million PIPE transaction, which will be renamed CXC10 and transformed into a platform for encryption and Web3 business. The lineup of investors is strong, including not only Faraday Future and Jia Yueting personally but also Sign, a blockchain technology company that builds on-chain public infrastructure for governments and enterprises worldwide, providing secure solutions ranging from digital identity verification to Token distribution.