Fr8 Tech is positioning itself for the future with the Trump meme coin, but its stock price has plummeted!
Fr8 Tech (FRGT), which is listed in the United States, announced an agreement with institutional investors to raise up to $20 million through convertible notes, specifically to purchase the official Trump meme coin TRUMP. The CEO pointed out that this not only diversifies crypto assets but also promotes fair trade between the U.S. and Mexico.
However, after the announcement, FRGT's stock price fell by as much as 20.6%, indicating a lack of confidence among shareholders in political meme coins. Fr8 Tech recently acquired the artificial intelligence platform Fetch.ai for $5.2 million, demonstrating its aggressive expansion in crypto investments.
As the Trump administration promotes Bitcoin reserves, more and more companies are choosing to include crypto assets in their reserves. Whether Fr8 Tech's strategy will succeed remains to be seen by the market.
Meanwhile, meme coins associated with Trump are incredibly popular, especially the heroic dog Co nan, which benefits from Trump's strong IP and active community. Its market capitalization recently broke the $10 million mark but has since slightly adjusted to about $7.3 million, making it an excellent opportunity for entry and accumulation. The number of holders has exceeded 12.8K and continues to grow, making it a highly promising candidate for a bull market!
If anyone wants to gain further insights into the development of the entire crypto space and the meme sector, feel free to reach out to Meme交流區 for discussion!
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