Freight Technologies (FRGT), a logistics technology company, has secured up to $20 million to invest in the Official Trump Token (TRUMP). The funds will support the company’s growing interest in digital assets. The move makes Freight Technologies one of the few public companies investing in cryptocurrency.
The company focuses on cross-border trade between the United States and Mexico. It plans to use the TRUMP token as part of a wider strategy to build a crypto-based treasury.
Deal Secured Through Institutional Partnership
Freight Technologies partnered with an institutional investor to secure a convertible note facility. This financial tool allows the company to draw funds in stages. The first $1 million has already been used to purchase TRUMP tokens. The remaining $19 million is available for future investments in the token.
The company confirmed that all funds from the agreement will be used to buy TRUMP. This decision shows Freight Technologies’ trust in the token as a long-term digital asset.
Previous $8 Million Purchase of FET Tokens
This is not the company’s first step into the crypto space. Freight Technologies recently bought about $8 million worth of FET tokens. These tokens are linked to AI-powered logistics platforms. The company says FET is important for its digital infrastructure.
Using blockchain and AI together, Freight Technologies hopes to improve the way goods move between countries. The company believes this mix of technology will boost its performance and lead the way in digital logistics.
CEO Emphasizes Trade Support Between U.S. and Mexico
Javier Selgas, CEO of Freight Technologies, said the company is committed to supporting active trade between the U.S. and Mexico. He noted that Mexico is both a top export market and a key import source for the U.S.
Selgas said that the TRUMP token investment fits into the company’s larger goal of supporting balanced trade. He believes the token will not only strengthen the company’s treasury but also help support policies that promote fair international trade.
Concerns Raised About Political Connections
Despite the company’s confidence in the move, the TRUMP token purchase has led to some concern. Critics worry about the risks of investing in a digital asset linked to a political figure. The TRUMP token is viewed by many as a “memecoin,” a term used for tokens with strong cultural or political associations.
The concerns grew after Donald Trump announced that he will host a private dinner for top TRUMP token holders. Some worry that such actions could influence political decisions or create conflicts of interest for companies like Freight Technologies.
Market Reaction Reflects Crypto Volatility
Freight Technologies’ stock price jumped more than 111% after the TRUMP investment news. But in after-hours trading, the stock fell by 21.6%. These changes show the high risk and volatility in cryptocurrency investments.
While the company sees digital tokens as valuable tools for growth, the market reaction shows that investors are still cautious. Price swings can be large and sudden, especially with tokens tied to high-profile figures or controversial topics.
Company’s Digital Vision for Logistics
Freight Technologies provides several services to make shipping and trade easier. These include booking for cross-border freight and managing transport across North America. The company says it wants to use TRUMP and FET tokens to make its services faster and more efficient.
Using blockchain, the firm aims to secure transactions, track cargo in real-time, and reduce delays. AI can also help predict demand, cut costs, and improve route planning. Together, these technologies may give Freight Technologies an edge in the competitive logistics sector.
TRUMP Token Price Sees Strong Growth
As of now, the TRUMP token trades at $12.70. That’s a 42% rise in value over the past 30 days. This growth may be one reason behind Freight Technologies’ interest in the asset. If the token continues to gain value, it could become a strong part of the company’s digital portfolio.
Still, experts warn that crypto investments must be handled carefully. Prices can change quickly. Companies investing in these assets need strong risk management plans.
A Bold Move in Digital Finance and Trade
Freight Technologies is taking a bold step by linking its future to digital currencies. With a focus on TRUMP and FET tokens, the company hopes to lead in both tech innovation and trade efficiency. But it must also manage the public and market concerns that come with such moves.
As more public companies explore digital assets, Freight Technologies may be seen as a case study. Whether this strategy will pay off in the long run is yet to be seen.