Freight Technologies, which also invested in FET tokens, says it's aiming to strengthen its technology and geopolitical positioning.
By Francisco Rodrigues|Edited by Aoyon Ashraf
May 3, 2025, 9:47 p.m.
What to know:
Freight Technologies is set to invest up to $20 million in the Official $TRUMP
Token (TRUMP) as it builds a crypto treasury.
Freight Technologies’ shares jumped over 111% after the announcement but plunged 21.6% in after-hours trading.
Freight Technologies (FRGT), a $4.8 million market cap logistics tech firm focused on cross-border trade between the U.S. and Mexico, has entered an agreement to buy up to $20 million in the Official Trump Token (TRUMP) to build out its crypto treasury.
The company said it secured the funding through a convertible note facility with an institutional investor, with an initial $1 million tranche already committed. The capital will be used solely to acquire TRUMP tokens, making it one of the first publicly listed companies to do so.
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The decision follows a separate investment in AI-linked FET tokens currently valued at $8 million, which the company says supports AI tools used across its logistics platforms.
Buying digital assets for publicly traded companies isn't a new strategy.
Michael Saylor championed it with a bitcoin strategy, and others, such as Semler Scientific (SMLR), followed through. Most recently, Cantor (CEP) is making a splash with huge dry powder to do the same. Meanwhile, companies such as Sol Strategies (HODL) and Janover (JNVR) are buying up $SOL
tokens to give investors exposure to the cryptocurrency.
The trend is also picking up in Japan, where hotel firm Metaplanet has recently hit 5,000 $BTC on its balance sheet and issued $25 million in bonds to fund additional purchases. Smaller firms, including Value Creation, Remixpoint, NEXON, Anap Holdings, and WEMADE are also accumulating the cryptocurrency.
$TRUMP tokens are trading at $12.7, up just 0.1% for the day and 42% in the last 30 days.
