A small company would like to buy Trump’s $ 20m token to change US-Mexico trade deals
Freight Technologies (FRGT), a $ 4.8 million market cap logistics tech firm dedicated to cross-border trade between the US and Mexico, entered an agreement to buy up to $ 20 million in Trump’s official token (Trump) to develop its crypto treasury.
The The company said It has been securing funding through a convertible note facility with an institutional investor, with an initial $ 1 million tranche already done. Capital will only be used to capture Trump’s tokens, making it one of the firstly listed public companies to do so.
The decision follows a separate investment in tokens linked to AI currently worth $ 8 million, which the company said supporting AI tools used on its logistics platforms.
Buying digital assets for companies that are publicly exchanged is not a new approach.
Michael Saylor won a approach to Bitcoin, and others, such as the Semler Scientific (SMLR), followed. Most recently -well, Cantor (CEP) makes a splash with a big dry powder to do the same. Meanwhile, companies such as Sol Strategies (Hodl) and Janover (JNVR) are buying Sol tokens to give cryptocurrency investors exposure.
The trend is also selective in Japan, where the hotel firm metaplanet is that -hit recently 5,000 btc its balance and released $ 25 million in bonds to fund additional purchases. Smaller companies, including value creation, remixpoint, nexon, anap holdings, and wemade also accumulate cryptocurrency.
However, Freight’s mandate is slightly different: to influence the US-Mexico trade deal among President Trump All-out trade war.
“We believe that adding Trump’s official tokens is a great way to change our crypto treasury, and also an effective way to uphold for fair, balanced, and free trade between Mexico and the US,” Javier Selgas, the company’s CEO, said in a press release on April 30.
While such an approach can help a company like shipment, which influences the president’s decisions by buying a memecoin can cause a question of conflict of interest. Recently, Trump said he would hold a private dinner To the top token holders, the drawing of the democratic lawmakers, mentioned the president’s involvement in the token as a potential basis for impeachment.
On April 25, Sen. Jon OSSOFF (D-Ga.) Case of accessing access In the presidency.
For shipment, whose stock price has dropped nearly 90% in the last 12 months and is heavily tied to cross-border trading, it seems that this may be the best way to keep sharing prices.
“In the midst of the FR8tech mission is the promotion of productivity and active commerce between the United States and Mexico. Mexico is the leading trade goods of the United States, along with Mexico’s leading destination for US exports and the leading resources for US imports,” Malgas added.
After announcing the move, the shares of freight technologies jumped more than 111% before the closing of the bell on Friday. However, at the time of trading time, the stock dropped by 21.6%.
The Freight Technologies product lineup includes a suite of applications, from cross-border shipment freight to transportation management, all aims to change the flow of goods in North America.
Other companies have made investments in the crypto space linked to the US president. Last month, dwf labs Investing $ 25 million In the decentralized financial protocol supported by Trump and his family, World Liberty Financial (WLFI), as it moved to establish a physical presence in the US
The investment provides DWF Labs a project management stake, which has accumulated various cryptocurrencies and is set to launch a stablecoin supported by short -term US bills and other equivalent cash, Called USD1.
Trump’s tokens trade at $ 12.7, up to 0.1% for the day and 42% in the last 30 days.
Read more: Why Trump’s tariffs can be good for bitcoin
