Freight Technologies, which also invested in FET tokens, says it's aiming to strengthen its technology and geopolitical positioning 
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), $TRUMP
A $TRUMP 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 $BTC $1
1million 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.
The investment gives DWF Labs a governance stake in the project, which has been accumulating various cryptocurrencies and is set to soon launch a stablecoin backed by short-term U.S. Treasury bills and other cash equivalents, called USD1.
TRUMP tokens are trading at $12.7, up just 0.1% for the day and 42% in the last 30 days.
