Krutika Adani
Faraday Future Shares Drop 7%
The EV maker’s stock closed at $2.58 after reporting Q2 results and unveiling its crypto reserve strategy.
Q2 Earnings Show Net Loss
The company reported a $48.1M net loss, slightly better than last year, with operating expenses cut by 29%.
Bold Crypto Treasury Move
Faraday Future revealed plans to build a multibillion-dollar crypto reserve, starting with $30M in top digital assets.
Bitcoin & Ethereum Dominate
Its C10 Treasury allocates 50% to Bitcoin and nearly 24% to Ethereum, with an ETF launch also planned.
Optimism for the Future
Despite losses, management remains confident, citing financial discipline, capital milestones, and strong institutional demand.