Jia Yueting announces his entry into the cryptocurrency industry

Author: Martin

From building cars with PowerPoint presentations to creating assets with code, Jia Yueting's financial magic wand has reached out to cryptocurrency, while a group of entrepreneurs from traditional industries have already quietly laid out their plans for this path to digital gold.

On August 17, Jia Yueting, founder of the smart electric vehicle company Faraday Future (FFAI), announced the launch of the "EAI+Crypto Dual Flywheel Strategy," planning to invest $500 million to $1 billion to purchase the top ten major crypto assets (excluding stablecoins). His goal is to create the first US crypto asset index fund, FFAI C10 Treasury, and apply for a crypto ETF license. Faraday Future aims to accumulate and compound a portfolio of the world's top ten crypto assets, with the goal of becoming the preferred treasury for these portfolios. If all goes well, its asset size could surge to tens of billions of dollars, with the goal of using the "fast cash flow" of crypto assets to feed back into the "slow ecosystem" of its car manufacturing business. Traditional Industries Crossing Over to Crypto: Those Who Jumped Down the "Rabbit Hole" Jia Yueting is not alone. A group of entrepreneurs from traditional industries have long sensed the opportunities in the crypto world, and their transformation has been more pragmatic and in-depth. DDC Enterprise Limited (formerly DayDayCook), a New York-listed food company, saw its share price surge tenfold in just three months this year. The secret behind this surge is the company's "Bitcoin Manifesto" released in May, which positioned Bitcoin as a core reserve asset. Founder Norma Chu, a veteran of HSBC Private Bank, led the company from zero to 368 BTC in 45 days, a holding valued at $43.42 million. She publicly declared, "Bitcoin is not a speculative asset—it is a strategically important reserve asset that provides long-term security for our company." The company's long-term plan: to accumulate 5,000 BTC over three years, aiming to become one of the top three global listed companies in terms of holdings. This aggressive strategy, rarely seen in the industry, positions Bitcoin as a core reserve asset. Future progress will require careful attention to the efficiency of its financing and the risks of market volatility. Even earlier was Taiwanese entrepreneur Neo (Peng Jinbao). This industrialist, who previously built a multinational automotive parts company, plunged into the crypto rabbit hole in 2015, turning his initial investment of 200,000 yuan into 200 million yuan, earning him the nickname "investment wizard" in Taiwan's crypto community. In 2020, he founded the digital asset exchange Cyberbank, aiming to "make digital assets accessible to more people." Neo believes that "the lower-tier markets will always be the biggest market." He sleeps in his office four days a week, devoting himself fully to this new venture with an open mindset. The Future of the Crypto Market: A Dance Between Technology, Regulation, and Capital • Technological Innovation Drives Explosive Growth Blockchain technology is evolving towards high efficiency and low cost: Ethereum upgrades and zero-knowledge proofs (ZKPs) increase transaction speeds; Layer 2 solutions reduce transaction fees; DeFi (decentralized finance) and RWA (real-world asset tokenization) are broadening their application scenarios. It is predicted that the total market capitalization of cryptocurrencies may exceed $7 trillion by 2025. • Regulatory Breakthroughs and Institutional Entry The United States passed the first federal cryptocurrency legislation, the Genius Act, allowing cryptocurrencies to be included in 401(k) retirement savings plans; the SEC launched "Project Crypto" to regulate the market. This increased policy clarity has attracted institutions such as BlackRock and Fidelity, which have already launched crypto custody services. • Can Jia Yueting's "dual flywheel" strategy really work? According to FF's plan, the C10 Treasury will adopt an "80% passive index + 20% active management" strategy, with profits allocated according to the "333 principle": 1/3 for vehicle manufacturing, 1/3 for reinvestment, and 1/3 for stock repurchases. However, skepticism persists: • FF has only delivered a double-digit number of mass-produced vehicles, yet it packaged 10,000 pre-sale orders into "future income rights" tokens for financing, drawing accusations of "filling a hole in reality with promises"; • If the tokens are deemed "unregistered securities" by the SEC, FF will face significant regulatory scrutiny. Behind the rush of traditional businesses to invest in cryptocurrencies lies a profound shift in the market landscape. Bitcoin's position as "digital gold" is increasingly solidified. In 2025, its price briefly surpassed $120,000, reaching a market capitalization of $2.36 trillion, surpassing giants like Amazon and entering the top five global assets. Market structure is also undergoing a key shift. Coinbase's latest report shows that Bitcoin's dominance has dropped from 65% to 59%, signaling the impending altcoin season. The firm predicts that starting in September, other cryptocurrencies will replace Bitcoin as the dominant force in the market. Ethereum is widely regarded as the leader of the altcoin bull market. The ETH/BTC exchange rate has risen 54.56% in 30 days, and on-chain transaction volume reached a record high of $238 billion in July. Standard Chartered Bank has raised its 2025 target price for ETH from $4,000 to $7,500. As the crypto market moves from the fringe to the mainstream, new rules of the game are being established. But for Jia Yueting, the outcome of this game still hinges on the same old question: Can the car be built? When faith has a token price, trust becomes the most scarce underlying asset.