Freight Technologies heavily invests in meme coin TRUMP through convertible bonds
On May 2, Freight Technologies (Nasdaq: FRGT) announced that it has signed a financial agreement with an investment organization to raise up to 20 million USD through convertible bonds. This capital is used to acquire TRUMP token — a type of meme coin associated with the image of former U.S. President Donald Trump.
In the initial phase, the company will issue 1 million USD in convertible bonds. If specific conditions are met, they will be able to raise an additional 19 million USD in subsequent rounds. This is a strategic move by Freight Technologies to expand its digital asset investment portfolio, especially as meme coins are creating significant waves in the crypto community.
Previously, the company spent 8 million USD to acquire FET tokens, demonstrating a clear direction in pursuing new opportunities in the blockchain and digital asset market.
