A small-cap logistics company, Freight Technologies, Inc., revealed this week its intention to repurchase the official TRUMP meme coin and hold it as a treasury reserve asset on its balance sheet.
Logistics Meets Memes: Freight Tech embraces the official TRUMP coin
In an unconventional twist on the bitcoin treasury strategy adopted by companies such as Strategy (formerly Microstrategy), Freight Technologies, Inc. (Nasdaq: FRGT) is choosing to accumulate the official TRUMP token as a substitute.
The logistics management company revealed that they have signed a convertible bond agreement—through a facility valued at up to $20 million—with an institutional investor, finalized on April 29, 2025.
Funds raised from the financing activities are allocated solely for the repurchase of the official Trump token (TRUMP), making Freight Technologies one of the first public companies to adopt the president's meme coin as a core pillar of its digital asset strategy.
"The focus of Freight Technologies' mission is to drive productive and proactive trade between the United States and Mexico," commented Javier Selgas, CEO of Freight Technologies. "Mexico is the United States' top trading partner, with Mexico being the leading destination for U.S. exports and the top source of U.S. imports."
Selgas added:
The recent acquisition of FET Tokens into our treasury, combined with the AI solutions supported by FET, continues to help us develop our technology. We believe that adding Official Trump Tokens is a great way to diversify our cryptocurrency treasury and also an effective way to support fair, balanced, and free trade between Mexico and the [United States].
In the last 24 hours, TRUMP has increased by 2.4% against the US dollar, marking a 69.5% rise in the past two weeks. As of Friday afternoon, shortly after 4 PM Eastern Time, a single TRUMP meme coin was trading at $13.15. However, the token is still down 82.2% from its all-time high of $73.43 set on January 19, 2025. FRGT shares have also risen, increasing by 111% on the day.
Although this move may generate headlines, in the long run, turning a meme coin into a treasury asset could raise more questions than confidence. This strategy could tread a fine line between innovation and ostentation, blurring the boundaries of financial prudence. Followers may wonder whether this signals a progressive-minded diversification or simply a public-driven bet on the president's meme coin with limited long-term content.
