"From Freight to Frontlines: Small Cap Firm Uses Trump Token to Boost Influence"
๐ข What Happened:
A small U.S. Logistics tech company called Freight Technologies (Fr8Tech) plans to spend up to ๐ฐ $20 million to buy a cryptocurrency called the ๐๏ธ Trump Token #TRUMP .
This is part of their strategy to build a crypto treasury โ basically a collection of crypto assets to hold value, like a digital version of cash reserves.
โ ๏ธ Why It Matters:
๐ฏ Their Goal:
Fr8Tech says the move will help them influence U.S.-Mexico trade deals and improve their tech and geopolitical position.
๐๏ธ Political Twist:
The TRUMP token is tied to Donald Trump, and some top token holders are being invited to a private dinner with him.
๐ This has triggered concerns about political access being โfor sale.โ
๐ Stock Impact:
After the announcement, Fr8Techโs stock jumped +111% โ
But in after-hours trading, it dropped -21.6% โ
Likely due to controversy or investor concerns.
๐ Part of a Larger Crypto Trend:
Many other big and small companies are also investing in crypto like Bitcoin, ๐ท SOL, and ๐ค FET to diversify their assets and stay competitive.
