Faraday Future, a company known for its early entry into the electric vehicle (EV) market as a competitor to Tesla, has entered the world of cryptocurrency. The firm recently launched the C10 Index, a weighted basket of cryptocurrencies designed to reflect market cap. Bitcoin constitutes nearly half of this index, while Ethereum holds 24%. Faraday Future has already invested $30 million in crypto and aims to increase this sum to $1 billion. This marks a significant step for the company as it navigates challenges with production delays and limited vehicle deliveries. The stock has experienced an enormous decline of roughly 98%, reflecting the typical boom-and-bust cycle associated with SPAC mergers.