US Stock Market Move | Faraday Future Intelligent Electric, Inc. (FFAI.US) fell 9% and plans to launch the world's first "Electric Vehicle Industry Cryptocurrency Index Fund".

On Monday, Faraday Future Intelligent Electric, Inc. (FFAI.US) fell by 9%, closing at $2.52. In recent news, Faraday Future Intelligent Electric, Inc. announced a shocking cryptocurrency strategy, planning to invest in building a digital asset portfolio and launching the world's first "electric vehicle industry cryptocurrency index fund." According to FFAI's "C10 Treasury" plan, the company has committed an initial investment of $30 million to purchase cryptocurrencies, with the goal of expanding the portfolio to "several billion dollars" in the future. The asset portfolio will cover the top ten non-stablecoin cryptocurrencies (such as Bitcoin, Ethereum) and will use a dynamic rebalancing mechanism to ensure investment diversity. Automotive industry analyst John Murphy pointed out that venturing into cryptocurrency on a large scale while the core business is still not stable is like walking on a tightrope at the edge of a cliff.