#Faraday Future Stock Drops After #Crypto Plan


Electric vehicle maker Faraday Future Intelligent Electric fell 7% to $2.58 on Monday after filing second-quarter earnings, just one day after announcing a multibillion-dollar #crypto reserve strategy. The company revealed plans to buy "tens of billions" worth of crypto after purchasing $30 million for its strategic reserve.


The EV maker launched its C10 Treasury, a basket of the top 10 crypto assets weighted by market cap, excluding stablecoins. $BTC constitutes 50% of the fund while $ETH represents 23.7%. The company also intends to launch an #ETF for the product.


Faraday Future reported a net loss of $48.1 million from operations for Q2, slightly better than the $50.6 million loss during the same quarter last year. Total operating expenses decreased 29% to $21.3 million compared to the previous year.


The company's management remains optimistic for the second half of the year, maintaining financial discipline while rolling out EVs as scheduled. Faraday Future's stock was recently added to the Russell 3000 Index, representing the 3,000 largest publicly traded companies in the U.S.

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August 19, 2025 at 11:43 AM
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