Trucking Firm’s TRUMP Crypto Bet Backfires—Here’s the Damage

A mid-sized trucking company’s foray into political meme coins has turned into a financial wreck. After allocating a significant portion of treasury reserves to TRUMP tokens, the firm now faces staggering unrealized losses as the controversial crypto asset tanks.

When corporate treasury meets meme coin volatility—what could possibly go wrong? The company joined the wave of businesses dabbling in crypto, but chose one of the most politically charged assets as their vehicle.

This isn’t your grandfather’s hedge strategy. While some Fortune 500 companies cautiously diversify into Bitcoin, this trucking firm went full degen—proving once again that mixing corporate finance with meme coins is like hauling nitroglycerin in a bumper car.

However, the gap was quickly filled during after-market hours earlier today, with FRGT inching lower, back below $2, and likely to lose all gains by the end of the week.

So, what triggered this “FOMO” on Nasdaq, driving FRGT prices to record highs in Q2 2025?

Freight Technologies to Stack TRUMP Meme Coin

“We believe that adding Official Trump tokens is an excellent way to diversify our crypto treasury and an effective way to advocate for fair, balanced, and free trade between Mexico and the U.S.,” Freight Technologies declared in a press release.

What’s more? They won’t be buying $1 million or $5 million worth of TRUMP tokens, but a staggering $20 million.

Funds will be raised from investors, and, similar to Strategy (former MicroStrategy), they will pour everything into TRUMP, aiming to make the meme coin the cornerstone of their digital asset strategy.

Interestingly, even with this announcement, TRUMP prices didn’t rise. In fact, the meme coin has been on a downtrend, losing over 50% of its gains from April 23.

TRUMP, one of the best Solana meme coins, has faced intense selling pressure, sliding from over $75 to around $7, a 95% drop.

This sell-off may explain why some critics believe the president could be misleading investors by using the TRUMP token as a vehicle.

“TRUMP coin is a scam, and its mere existence is embarrassing for all U.S. citizens,” one user posted on X. “We should expect better from our leaders.”

Whether the president, linked to the meme coin, is a “wolf in sheep’s clothing” remains to be seen. Many don’t care, and the president himself sees no issue, even promoting it on X.

Trump is back at scamming the American citizens again.

He is promoting the $Trump meme coin that he endorsed 2 months ago, coin that lost 90% of its value since.

This guy belongs to jail. https://t.co/zZLP4ov79i pic.twitter.com/CkLBHk9xCg

— MenchOsint (@MenchOsint) March 23, 2025

If the president thinks the TRUMP meme coin is “cool” and loves it, Freight Technologies is convinced now is the time to buy every circulating token.

Buying enough to rank high on the leaderboard could secure an invitation to dinner with Donald Trump on May 22.

Is This a Genuine Attempt to Promote Cross-Border Commerce or a Bribe?

For observers, Freight Technologies’ decision to buy TRUMP tokens is a high-stakes gamble that could either pay off in the long term or irreparably damage its reputation (and finances).

CEO Javier Selgas framed the move as a diversification of their treasury and a symbolic gesture to advocate for “fair, balanced, and free trade” between the United States and Mexico.

In their view, there’s no better way to demonstrate their commitment to “America First” than by buying TRUMP tokens. Looking at trading volume, the meme coin is undoubtedly one of the best cryptos to consider in May.

Freight Technologies is accumulating TRUMP amid fears of escalating tensions between the United States and Mexico due to tariffs.

Trump imposed a 25% tariff on imports from Mexico and Canada for goods not covered by the USMCA.

While the impact is uncertain, Freight Technologies, which relies heavily on cross-border logistics, faces risks from these tariffs, which could disrupt its financial stability and, ultimately, profits.

Will this purchase help them secure favorable treatment from the Trump administration? If so, could it be considered a “bribe”?

This is called a bribe.

We all know it’s a bribe. The freight company spending $20 million admits it’s a bribe.

Everyone understands this, and yet no one is holding him accountable — especially his own party which claims to care about law and order. pic.twitter.com/CXzZ2Yq16v

— Melanie D’Arrigo (@DarrigoMelanie) May 5, 2025

If Freight Technologies receives favorable treatment, will Donald Trump be held accountable?

These are the questions raised by Melanie D’Arrigo, former executive of Campaign for New York Health, on X.

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Freight Technologies Bet On TRUMP Meme Coin Backfires

• Freight Technologies will raise $20 million to buy TRUMP, one of the best Solana meme coins 
• FRGT prices rallied before crashing on Monday 
• TRUMP prices firm but is under pressure after falling below $10 after peaking at $75  
• Will Freight Technologies receive favorable treatment from the United States?