On April 30, 2025, Freight Technologies, an innovative logistics company (Nasdaq: FRGT), announced a deal for the issuance of convertible bonds amounting to up to $20 million to create a cryptocurrency reserve with Official Trump Tokens (TRUMP). This move makes Fr8Tech one of the first public companies to integrate $TRUMP into its digital asset strategy. The initial tranche is $1 million, with the possibility of raising an additional $19 million.
CEO Javier Selgas emphasized that the investment is aimed at supporting trade between the USA and Mexico, as Mexico is the largest trading partner of the USA. The company believes that $TRUMP will help advocate for fair and balanced trade, especially in light of potential tariffs that could affect the logistics business. Previously, Fr8Tech invested $8 million in FET tokens, demonstrating a diversification strategy.
However, the announcement has sparked mixed reactions: the company's shares fell more than 20% after the news, indicating market skepticism. The investment in $TRUMP has also raised concerns about its potential impact on trade policy. Stay updated on developments in the world of cryptocurrency and logistics, subscribe to #MiningUpdates to stay informed!