Freight Technologies (FRGT), $ 4.8 million market cap logistics tech firm, which focuses on cross -border trade between the US and Mexico, has signed an agreement to buy up to $ 20 million in the official Trump Token (Trump) to create its crypto treasury.
The company said It received funds through a convertible note feature with an institutional investor, with a already committed $ 1 million hung. The capital will be used perfectly to acquire Trump tokens, which is one of the first publicly listed companies to do so.
The decision follows a separate investment in the AI-Linked FET token that is currently a value of $ 8 million, which the company says that AI tools are used in their logistics platforms.
Buying digital assets is not a new strategy for publicly business companies.
Michael Salers made it champion with a bitcoin strategy, and others, such as the Seemler Scientific (SMLR), through it. Recently, the canter (CEP) is making a splash with huge dried powder to do this. Meanwhile, companies such as Sol Stratezes (HODL) and Janover (JNVR) are buying a sol token to give investors risk for cryptocurrency.
This trend is also picking up in Japan, where hotel firm Metaplanet has recently hit 5,000 BTCs on its balance sheet and released $ 25 million in bonds for additional purchases. Small firms, including price construction, remixpoint, nexon, ANAP holdings and vamens, are also depositing cryptocurrency.
However, Freight’s mandate is slightly different: to influence the US-Maxico trade deal between President Trump Supreme trade war,
The CEO of the company said in a press release on 30 April, “We believe that apart from the official Trump token, there is a great way to diversify our crypto treasury, and is an effective way to advocate fair, balanced and free trade between Mexico and America.”
While such a strategy can help a company like freight transportation, the question of conflict of interest may arise due to the President’s decisions by purchasing Memcoin. Recently, Trump said that he would hold a private dinner with top token holders, attract resentment from Democratic MPs, who cited the President’s participation with a token as a possible basis for impeachment.
On 25 April, Sen John Ossoff (D-GA) pointed to the Crypto Project, which provides an invitation to his top holders for a dinner event with President Trump, calling it clearly Selling case For the presidency.
For freight, whose share price was about 90% in the last 12 months and is much tied to cross-border trading, it seems that it can be the best way to maintain share prices.
“The center of the Mission of FR8Tech has a promotion of productive and active commerce between the United States and Mexico. Mexico is the United States top trade partner, with a major destination for US exports and top sources for American imports,” Selgas said.
After announcing the move, the shares of freight technologies jumped over 111% before the shutdown bell on Friday. However, in the hourly trading, stock declined by 21.6%.
The product lineup of freight technologies includes a suit of applications, for the purpose of modernizing the flow of goods in North America, from across the border to transport management to transport management.
Other companies have invested in the crypto space associated with the US President. Last month, DWF Labs invested $ 25 million in a decentralized finance protocol supported by Trump and his family, World Liberty Financial (WLFI), as it went to establish a physical appearance in the US
The investment gives DWF labs a governance stake in the project, collecting various cryptocurrency and is soon set to launch a stabilcoin supported by a short -term American Treasury Bill called USD1 and other cash counterparts.
Trump tokens are trading at $ 12.7, which is just 0.1% for the day and 42% in the last 30 days.
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