Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Jia Yueting Breaks Silence on Fake Meme Coin Rumors

Jia Yueting Breaks Silence on Fake Meme Coin Rumors

coinfomaniacoinfomania2025/10/08 20:39
By:coinfomania

A response to X by the founder and co-CEO of Faraday Future, Jia Yueting, claims that he, Faraday Future (FF), and CXC10 have neither minted nor intend to mint any meme coin. The assertion followed rumors and bogus promotions posted online purported links between the firms of Jia and a new meme token named Binance Car.

吴说获悉,法拉第未来(Faraday Future)创始人兼联合 CEO 贾跃亭在 X 发布声明,澄清自己及其关联方 FF 和 CXC10 从未发行过任何形式的 Meme 币,也没有计划这样做。贾跃亭表示,注意到有冒用其本人、FF 或 CXC10 的名义发布所谓“Meme币”相关信息均不实,他及团队尊重 Meme…

— 吴说区块链 (@wublockchain12) October 8, 2025

Binance Car Meme Coin

According to on-chain metrics, the counterfeit Binance car token had a market capitalization of more than 30 million dollars in 24 hours after its launch. The abrupt spike was similar to the recent trend in Asia where meme coins tend to soar to an extreme new high on hype before falling down. Its short-term growth is compared to more recent meme coins such as BURN and MANYU, both of which spiked their percent change by triple digits in late September. BURN upsurged 2,385% on a single day to a market value of $41 million, and MANYU grew 203 percent to $56 million. The $30 million valuation of the Binance Car token leaves it in a middle meme coin category, yet not being affiliated with Binance or FF, the experts expect a high risk and zero legitimacy.

Crypto Ambitions at Faraday Future and CXC10

Faraday Future, the EV company (a startup based in California) that Jia founded in 2014 and recently shifted its priorities to the Web3 integration. The firm invested 41 million dollars in Qualigen Therapeutics, which rebranded to CXC10, and the company has turned to blockchain-based applications and digital ecosystems.

Although this crypto pivot was legitimate, it most likely contributed to the confusion concerning the relationship between FF and the issuance of the token. In late September 2025, FF updated its press release and stated that it had intended to partner with blockchain technology but did not mention any type of token or coin. FF flagship model FF91 will go into production in large scale with projections of delivering tens of thousands in 2 years.

Securing Brand Integrity

The crypto business is experiencing increasing worries regarding identity abuse, and Jia refusal only highlights that. Over the past few months, many counterfeit currencies have played on the fame of celebrities to invest hastily in their coffers – a move that has cost millions of traders their hard-earned money.

Jia is trying to insulate investor confidence by quickly dissociating FF and CXC10 with the meme coin claims as the company widens its Web3 alliances. The statement would also be compliant with investor disclosure policy of FF that requires transparency as stipulated by the U.S. Private Securities Litigation Reform Act.

Since FF had a high profile crypto investment of $41 million and is going to be very visible globally, the clarification by Jia has come at a very critical time to avoid brand dilution and regulatory checks.

Meme Coin Market

Although controversial, the meme coin industry has remained an industry that attracts traders who want to gain quick profits. Bitget News (Sept 30, 2025) noted that the meme coin market had briefly leveled off in mid-September but recovered its momentum with community-based tokens.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Breaking: Factors Behind the October 8th Cryptocurrency Market Plunge

Unraveling the Factors Behind Major Cryptocurrencies' Plunge into the Red Zone on October 8th

Coineagle2025/10/08 20:57
Breaking: Factors Behind the October 8th Cryptocurrency Market Plunge

Bitcoin Dips to $120K as Spot Gold Soars to Record Highs

Amid a 2.22% Daily Decline, Bitcoin Stumbles as Gold Soars to Unprecedented Heights

Coineagle2025/10/08 20:57
Bitcoin Dips to $120K as Spot Gold Soars to Record Highs