Jia Yueting: QLGN will be renamed AIxCrypto by November 20th, transforming into an encryption and Web3 business platform.

On November 17th, Jia Yueting, founder of Faraday Future, announced via social media that Qualigen Therapeutics (NASDAQ: QLGN), a US-listed company with strategic investment from Faraday Future, will officially change its name to AIxCrypto by November 20th, with an official ceremony for the name change and stock code change to be held simultaneously.

Jia Yueting also pointed out that, to date, all shareholder proposals for QLGN have been approved, making Faraday Future the controlling shareholder and majority shareholder of the company.

This name change marks a significant transformation in QLGN's business direction. According to a previous report by BlockBeats on September 20th, Faraday Future announced a strategic investment in Qualigen Therapeutics through a $41 million PIPE transaction. At that time, the company revealed that QLGN would be renamed CXC10, fully shifting its focus to the crypto asset and Web3 business areas, aiming to build a new platform integrating blockchain technology and a decentralized ecosystem.

With the ongoing renaming process, QLGN will completely abandon its original business structure and transform into an innovative entity focused on the integration of artificial intelligence and the crypto economy.

This move is also seen as a significant step for Faraday Future in expanding its technology ecosystem and exploring emerging digital asset fields, drawing widespread market attention to the potential synergies between the two companies.