In a bold move, U.S.-based logistics firm Freight Technologies Inc. has announced plans to adopt the TRUMP memecoin—linked to former President Donald Trump—as a digital treasury reserve asset. This makes it one of the first public companies to do so.
According to Bloomberg, the firm will use proceeds from a $1 million convertible notes sale to buy TRUMP tokens, with potential expansion up to $20 million. Following the announcement, Freight’s stock soared by 108%, boosting its market value to $4.6 million.
This is not the company’s first venture into crypto; it also holds around $8 million in FET tokens from Fetch.ai.
The move aligns with a broader trend among companies like Strategy and Metaplanet, which are increasingly using Bitcoin as a treasury reserve. Strategy, led by Michael Saylor, recently doubled its BTC investment target and posted strong YTD gains.
Meanwhile, political interest in crypto is also rising. Trump’s campaign includes plans for a national crypto reserve strategy, while Senator Cynthia Lummis pushes for crypto-friendly legislation through the proposed Bitcoin Act Bill.
Despite Freight’s bullish stance, the TRUMP token itself has shown little price movement amid a volatile market.
