From Yahoo Finance: 2025-05-03 12:47:00

Freight Technologies (FRGT) has secured $20 million to buy Official Trump Tokens (TRUMP) for its crypto treasury, aiming to influence U.S.-Mexico trade amid a potential all-out trade war. The move follows an $8 million investment in AI-linked FET tokens and mirrors a trend of publicly traded companies buying digital assets. TRUMP tokens are currently trading at $12.7.

This strategy has raised concerns about potential conflicts of interest, as President Trump has offered private dinners to top token holders, drawing criticism from Democratic lawmakers. Sen. Jon Ossoff has labeled it as selling access to the presidency, sparking impeachment concerns. Freight’s stock price, heavily tied to cross-border trading, dropped 90% in the last year.

Fr8Tech’s mission is to promote commerce between the U.S. and Mexico, the top trading partners. After the announcement, Freight Technologies’ shares surged over 111% but later plunged 21.6% in after-hours trading. Their product lineup includes applications for cross-border freight booking and transportation management in North America.

Other companies, like DWF Labs, have invested in crypto projects linked to the U.S. President, backing World Liberty Financial for $25 million. TRUMP tokens are trading at $12.7, up 0.1% for the day and 42% in the last 30 days. The trend of publicly traded companies buying digital assets is gaining traction globally, with firms in Japan also accumulating cryptocurrencies like BTC and SOL tokens.



Read more at Yahoo Finance: A Tiny Company Wants to Buy $20M TRUMP Token to Change U.S.-Mexico Trade Deals