Freight Technologies (FRGT), a small U.S.-Mexico logistics tech company with a $4.8M market cap, just made a bold move—it’s committing up to $20 million to buy the Official $TRUMP Token in an effort to build out a crypto treasury and influence cross-border trade policy.
The company says it secured the funds through a convertible note with an institutional backer, kicking things off with an initial $1 million. With this, Freight becomes one of the first publicly traded companies to make a major $TRUMP token investment.
This isn’t the first time public firms have gone deep into crypto. Michael Saylor’s MicroStrategy set the trend with Bitcoin, followed by companies like Semler Scientific (SMLR), and more recently, Cantor (CEP). Others like Sol Strategies and Janover have opted for SOL tokens instead. Over in Japan, Metaplanet has stacked up 5,000 BTC and even issued bonds to buy more.
But Freight’s aim is different—its #TRUMP token purchase is meant to push for “fair and balanced” trade between the U.S. and Mexico, according to CEO Javier Selgas. The company says this is part of its mission to strengthen economic ties between the two nations, especially as tensions rise under President Trump’s renewed trade war rhetoric.
Selgas said in a statement on April 30 that TRUMP tokens will not only diversify Freight’s crypto assets but also act as a political tool to advocate for trade reform.
This approach, however, is raising eyebrows. Trump recently offered exclusive dinner invitations to top TRUMP token holders—an event that sparked backlash from Democratic lawmakers. Sen. Jon Ossoff (D-Ga.) even called it “selling access to the presidency” and warned of a possible conflict of interest.
Despite those concerns, Freight’s stock saw a wild ride: it shot up over 111% after the announcement but then dropped 21.6% in after-hours trading. The company, whose stock has plummeted nearly 90% in the past year, seems to be banking on crypto and politics to turn things around.
#TRUMP tokens are currently trading at $12.70, up 0.1% today and 42% over the last month. Meanwhile, others are jumping on the political crypto wave—DWF Labs recently poured $25 million into a DeFi project backed by #TRUMP and his family.