Jia Yueting: Investment in Qualigen Therapeutics is expected to be completed this week

Foresight News reported that Jia Yueting, founder of the smart electric vehicle company Faraday Future, tweeted that Faraday Future's $30 million investment in Qualigen Therapeutics (QLGN) has more than doubled its market value. The strategic investment is expected to be completed next week (this week in East 8th time zone).

According to previous Foresight News reports, Faraday Future announced a PIPE investment of approximately $41 million to acquire shares in Qualigen Therapeutics, and plans to jointly develop crypto and Web3 businesses. After the transaction is completed, QLGN will be renamed CXC10 and will fully focus on the crypto and Web3 ecosystem. Faraday Future and its founder Jia Yueting are expected to hold a combined stake of over 62%, with Jia Yueting personally investing $4 million.