# Jia Yueting, Crypto Veteran  

**Published by:** [TALK ABOUT WEB3](https://paragraph.com/@exercise/)
**Published on:** 2025-10-09
**Categories:** jia yueting
**URL:** https://paragraph.com/@exercise/jia-yueting-crypto-veteran

## Content

1. The 30-Million-Dollar Tweet On 8 Oct Jia Yueting posted a rendered FF car stamped with the letters “BNB” and the caption “Drive a Binance-mobile, live a Binance-life.” A freshly-minted meme coin called “Binance Car” instantly screamed to a $30 m market-cap. Hours later Jia clarified: “I have never issued any token.” The message was deleted, the pump evaporated, but the 42-year-old showman had proved he can still move markets with a single JPEG. --- 2. From “Eco-Synergy” to “EAI + Crypto Flywheel” While Faraday Future cars remain scarce, Jia’s new vehicle is a balance-sheet. In September his Cayman-registered crypto fund C10 Treasury reported a 7 % unrealised gain and then spent $41 m to swallow NASDAQ shell QLGN. Subject to shareholder vote the ticker will become CXC10 and the mandate will switch to “Web3 treasury management” backed by the top-10 liquid crypto-assets. Jia calls the strategy “EAI + Crypto dual flywheel”—electric-intelligence mobility on one side, on-chain treasury on the other, each feeding hype and liquidity to the other. --- 3. The First Crypto Crush—2011-2016 Jia’s blockchain romance is fourteen years old. In 2011, while LeTV was still China’s hottest video stock, cloud engineer Li Ming was running a Bitcoin node on his office laptop. Jia asked for primers, then green-lit a secret project to embed hash-power into LeTV boxes and TVs—users would mine satoshis to pay for annual subscriptions. By 2015 LeTV sold 3 million smart-TVs; BTC had just kissed $1 k. The mining feature never shipped, but Jia kept the lab alive. --- 4. A Lab, a Legend, a Liquidity Crunch March 2016: LeTV Blockchain Lab is formally opened, headed by ex-BoCom vice-president Wang Yongli. Experiments ranged from copyright NFTs to Stellar-based cross-border payments for LeTV’s incoming Vizio acquisition. December 2016: LeTV signs a strategic MoU with Stellar, the first Chinese tech giant to partner with a public chain. The same month LeTV’s bank accounts are frozen; the empire enters free-fall. The lab is mothballed, but the intellectual seed is planted. --- 5. Exit to America, Tokens in the Air July 2017 Jia boards a one-way flight to Los Angeles. While FF burns cash, the ICO circus rages. In China, LeTV’s spin-off Lerong Zhixin teams with start-up OneChain to launch the “One-Chain Box”—a $59 TV dongle that rewards users with OC tokens for sharing bandwidth. The Shenzhen exchange issues a blockchain-hype warning; the device is discontinued within weeks. At least 17 ex-LeTV engineers scatter into crypto, founding exchanges, layer-2 studios and custody shops—Jia’s diaspora becomes an unplanned angel-network. --- 6. 2025: The Comeback Deck Today Jia pitches investors inside a rented WeWork in Santa Monica. The deck opens with a photo of the deleted BNB-car tweet and the line: “Attention is the scarce asset—FF and C10 will monetise it.” Slide 12: CXC10 will custody BTC, ETH, SOL, BNB, HYPE, etc., lend to institutions, and issue tokenised convertible notes backed by FF vehicle pre-orders. Slide 17: FF 91 deliveries (whenever they happen) will embed a hardware wallet; every mile driven mines “EAI-miles” convertible to CXC10 tokens. Institutional backers—mostly Asian family offices—have already subscribed $80 m of the planned $200 m PIPE. --- 7. Déjà Vu or Real Deal? Bulls argue Jia finally has the right timing: spot-crypto ETFs are live, tokenised T-bills trade billions weekly, and carmakers issue loyalty tokens. Skeptics see the same movie: grand narrative, opaque cash-flows, minority shareholders left holding the bag. The next chapter is simple to describe, hard to execute: ship cars, ship code, ship returns—in that order. For the “old man of crypto” who never mined a block yet never stopped mining attention, the final test has just begun.

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