Obscure Firm’s Trump-Themed Crypto Gamble Sends Shares Soaring 900%
Wall Street shrugs—another day, another meme-fueled pump.
When a no-name company stakes its future on a polarizing political token, you’d expect crickets. Instead, traders FOMO’d into PHUN stock like it was 2021 Dogecoin mania all over again.
The playbook? Simple: Slap a divisive figure’s brand on a digital asset, wait for the algorithmic trading bots to sniff out volatility, then watch retail pile in chasing the dopamine hit of a parabolic chart.
Never mind that the ’Trump Coin’ itself lacks utility beyond tribal signaling—this is 2025’s version of selling shovels during a gold rush. The company’s market cap now rivals legit Web3 projects building actual infrastructure. Priorities!
As one hedge fund manager quipped: ’At least the SEC can’t claim this one’s an unregistered security—it’s clearly a meme security.’
Plans To Start With $1 Million In TRUMP
As reported by Bloomberg, Freight Technologies is starting the plan with a $1 million buy of TRUMP tokens. The firm could increase that to up to $20 million in the future. It’s one of the first publicly traded companies to announce TRUMP as a primary digital asset in its reserve.
The action seems to be less of an investment and more of a wager on name recognition and hype. TRUMP is a memecoin, and memecoins are notorious for wild price volatility. The coin didn’t fluctuate much following the announcement, which may indicate that the market isn’t responding the same way as investors did to Freight’s stock.
Company Already Holds $8 Million In FET
Freight Technologies is not a stranger to crypto. The company had earlier purchased $8 million worth of FET tokens. FET is the native cryptocurrency of Fetch.ai, a decentralized platform with an emphasis on artificial intelligence. That investment was confirmed as of April 29.
Other firms are taking an opposite route when it comes to crypto reserves. Strategy and Metaplanet are both Bitcoin-focused, not memecoins. On May 1, Michael Saylor announced Strategy doubled its plan to raise $42 billion in equity and another $42 billion in fixed income—just to purchase more Bitcoin.
The firm also said it earned nearly 14% in yield in BTC and a profit of close to $6 billion year-to-date. In 2025, Strategy aims to increase that yield by a quarter and profit to $15 billion. Metaplanet is also setting aside 3.6 billion yen to top up its Bitcoin reserves.
Featured image from 9News, chart from TradingView
