In today’s political crypto theater, a small logistics firm announced it will raise up to $20 million through convertible note offerings to buy $TRUMP token, making the memecoin “a cornerstone” of its digital asset strategy.
Freight Technologies (NASDAQ: FRGT) more than doubled in value on May 2 following the announcement, which came after volatile swings post-April 30, and lifted its market cap to just $4.71 million — a figure still dwarfed by the scale of its intended crypto purchase.
CEO Javier Selgas positioned the move as both a diversification strategy and a geopolitical signal, saying the Trump tokens will be used to “advocate for fair, balanced, and free trade between Mexico and the US.”
The Houston-based penny stock previously revealed holdings of $8 million in FET tokens from Fetch.ai.
The Trump token — created just before Trump’s 2025 inauguration — has lost most of its value and is not widely adopted or regulated. Comparisons to MicroStrategy’s billion-dollar Bitcoin treasury are misplaced: Freight Tech is neither cash-rich nor technically scaled, making this look less like strategic treasury management and more like a headline grab. Analysts liken the frenzy to meme-stock era volatility, with low-float firms chasing crypto hype for attention and investor exuberance.
The purchase also invites potential political blowback. Senators Elizabeth Warren and Adam Schiff have already raised alarms over ethics concerns, citing a “pay-to-play” model linked to top holders of the Trump coin.
Information for this briefing was found via Transport Topics and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
