Freight Tech Allocates $20M to Trump Token for Crypto Treasury Diversification
Freight Technologies (FRGT), a Nasdaq-listed logistics company focused on U.S.-Mexico cross-border trade, has pledged to buy up to $20 million worth of the Official Trump Token (TRUMP). The $4.8 million market cap firm secured funding via a convertible note facility, with an initial $1 million tranche dedicated solely to TRUMP purchases.
CEO Javier Selgas described the move as a strategic treasury diversification effort, highlighting the token’s alignment with promoting "fair, balanced trade policies." This decision represents one of the first cases of a public company earmarking corporate funds specifically for a politically themed cryptocurrency.