PANews reported on August 17th that Faraday Future (founded by Jia Yueting) announced and launched its "EAI + Crypto" dual-flywheel and dual-bridge ecosystem strategy. The company plans to launch EAI EV asset blockchains, creating an EAI travel + Web3 + blockchain technology + crypto asset application ecosystem.
In addition, Faraday Future launched the C10 Index, the first crypto asset basket index (excluding stablecoins) launched by a US-listed company. Faraday Future also released the C10 Treasury, a treasury product based on the C10 Index. The initial phase aims to purchase crypto assets totaling $500 million to $1 billion, once the necessary funding is secured. The initial allocation will be $30 million.

Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week. Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more

