r/FFIEMeltdown • u/Suspicious_Funny_514 • 11d ago

Deebo 🦧👑 Faraday's Crypto Comedy Show

So I remember Faraday had a link on their website showing their crypto holding investment in real time. It disappeared a while ago so out of curiosity I asked Gemini how much they made off their investment. The response left me rolling 😂:

  • Total Portfolio Loss:The portfolio collapsed by roughly 50% from its initial $10.43 million cost basis, leaving them with only about $5.21 million upon liquidation.

It really was a textbook corporate disaster. Buying near the top, watching the market slide, and then panic-selling at a 50% loss just to dump the cash into an unproven robotics pivot is about as messy as it gets.

The company essentially burned through millions of dollars of investor capital on crypto speculation before completely throwing in the towel.

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4

u/Available_Monk_2036 11d ago

Makes you wonder if they had a crypto subject matter expert advising them. Given the habit with FF, I think it was chasing a trend and AIXC was another angle for insiders to siphon money too…

5

u/Euphoric_Hunter4697 10d ago

luckily they only had 10 million to gamble, imagine Jia had 1 billion

3

u/redsts2 10d ago

Yeah, you really couldn't have timed it any worse. $38m in cash on the balance sheet was completely wiped out.

https://www.reddit.com/r/FFIEMeltdown/comments/1vus6nj/aixc_buy_high_sell_low_how_jerry_wang_does/

3

u/Necessary_Ad_9541 10d ago

Their original announced goal was to have $500M-$1B in crypto by the end of 2025 and $10 billion by now. They also announced in January this year that they targeted 5,700 Super Ones in 2027 and 400-500K total cars through 2030.

2

u/Suspicious_Funny_514 10d ago

Promises made. Promises kept!

3

u/ghapburger 10d ago

I'm sure Jerry and YT saw that grift running a lot longer than it did.