Freight Technologies to Invest in TRUMP Token
Freight Technologies (FRGT), a logistics technology firm with a market capitalization of $4.8 million, has announced plans to invest up to $20 million in the Official Trump Token (TRUMP) as part of its crypto treasury strategy. The company, which specializes in cross-border trade between the United States and Mexico, secured funding for this investment through a convertible note facility with an institutional investor, with an initial tranche of $1 million already committed.
The decision follows Freight Technologies’ previous investment in AI-linked FET tokens, currently valued at $8 million, which supports AI tools used across its logistics platforms. This move is part of a growing trend among publicly traded companies investing in digital assets. Other companies, such as Semler Scientific and Cantor, have adopted similar strategies, with some Japanese firms accumulating significant cryptocurrency holdings.
Freight Technologies’ CEO, Javier Selgas, stated that the investment in TRUMP tokens is intended to diversify the company’s crypto treasury and advocate for fair trade between Mexico and the U.S. The company’s product lineup includes applications for cross-border freight booking and transportation management, aimed at modernizing North American trade.
The announcement led to a significant stock price reaction, with Freight Technologies’ shares jumping over 111% after the news but subsequently plunging 21.6% in after-hours trading. The company’s stock has declined nearly 90% in the last 12 months, making this investment a potentially risky strategy to boost its share price.
This move has raised questions about potential conflicts of interest, particularly given President Trump’s recent involvement with cryptocurrency projects. The TRUMP token is currently trading at $12.7, showing a 42% increase over the last 30 days.
As the company navigates the complex landscape of cryptocurrency investments and geopolitical trade dynamics, its strategy highlights the growing intersection between digital assets and political influence.
