FRGT (Freight Technologies), a $ 4.8 million market capitalization logistics technology company, focuses on border transactions between the United States and Mexico, has agreed to purchase up to $ 20 million at the official Trump Token (Trump) to build the Cryptographic Treasury.
The company secured funds through the convertible notebook with institutional investors, and it was found that the initial $ 1 million trench was already committed. The capital is used entirely to acquire Trump tokens, one of the first public companies.
The decision currently follows a separate investment in the $ 8 million AI connection FET tokens, which will support AI tools used in the logistics platform.
Buying digital assets for a publicly traded company is not a new strategy.
Michael Saylor advocated it with a bitcoin strategy, followed by others like Semler Scientific (SMLR). Most recently, Cantor (CEP) is making a splash with a huge dry powder. Meanwhile, companies such as Sol Strategies (HODL) and Janover (JNVR) purchase SOL tokens so that investors can be exposed to cryptocurrency.
Hotel company METAPLANET is also beginning in Japan, which has recently issued $ 25 million in bonds to record 5,000 BTCs in the recent conjugation table and to fund additional purchases. Small companies, including value creation, Remixpoint, Nexon, Anap Holdings and Wemade, are also accumulating cryptocurrency.
But Freight’s mission is slightly different. It is slightly different to affect US-Mexico trade transactions during all Trump’s trade wars.
Javier Selgas, CEO of the company, said, “We think that the addition of the official Trump token is an excellent way to diversify our cryptocurrency and an effective way to defend the fair and balanced free trade between Mexico and the United States.”
Such strategic silver cargo can help to affect the presidential decision by purchasing meetings, but it can cause conflicting problems. Recently, Trump said he would have a personal dinner with the best token holders who drew cry from Democrats who cited the president’s participation as a potential for impeachment.
On April 25, Senator Jon Ossoff (D-GA.) Pointed out the Crypto Project and provided an invitation to the dinner with President Trump and called it a clear example of selling access to the presidential position.
For the last 12 months, in the case of cargo, which has a sharp drop in stock prices and is largely involved in border transactions, this seems to be the best way to keep the stock rich.
SELGAS said, “At the center of the mission of FR8TECH, it is a productive and active commerce promotion between the United States and Mexico. Mexico is the best product trading partner in the United States, Mexico is the main destination for US exports and the best source of US imports.
After the announcement, the shares of Freight Technologies increased more than 111% before the end of Friday. However, stocks plunged 21.6%in overtime transactions.
The product lineup of Freight Technologies includes a variety of applications from border reservation to transportation management, and all of them aim to modernize the product flow in North America.
Other companies have invested in encryption spaces related to the US president. Last month, DWF Labs moved to establish a physical being in the United States by investing $ 25 million in a decentralized financial protocol supported by Trump and his family, World Liberty Financial (WLFI).
The investment will provide DWF Labs a stake in the project’s governance, which will accumulate various cryptocurrencies, which will soon launch a stable Starble Recoin supported by the US Treasury bill and other cash equivalents (USD1).
Trump tokens are trading at $ 12.7, which has increased 0.1% per day and 42% over the last 30 days.
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