Freight Technologies to Acquire $20 Million in Trump Meme Coins – Coincu

Freight Technologies, Inc. (NASDAQ: FRGT) intends to raise $20 million through a bond agreement, targeting investment in the TRUMP meme coin. The initial $1 million tranche commenced recently.

This strategic move signals Fr8Tech’s pursuit of a robust digital asset portfolio amid rising interest in niche cryptocurrencies.

Freight Technologies Secures $20M for Trump Coin Acquisition

Freight Technologies, a tech-integrated logistics firm, has confirmed an agreement with an institutional investor to secure up to $20 million via convertible bonds, allocated for buying the TRUMP meme coin. This acquisition aligns with Fr8Tech’s effort to diversify its holdings.

The initial funding round involves $1 million, with additional funds subject to specific criteria. Fr8Tech’s prior acquisition of Fetch.ai tokens emphasizes its commitment to decentralized tech. The current maneuver indicates accelerated diversification within Fr8Tech’s treasury functions.

This transaction to purchase Official Trump tokens advances Fr8Tech’s strategy to build a diversified digital asset treasury. – Freight Technologies, Inc.

While there is no direct response from Freight Tech’s CEO Javier Selgas, this move has captured industry attention for its unique investment in a politically themed asset. The transaction’s broader market impact remains speculative.

Trump Coin Market Sees Volatility Amid Fr8Tech Strategy

Did you know? The $20 million TRUMP coin investment mirrors past strategies by firms like MicroStrategy with Bitcoin, highlighting a trend of integrating cryptocurrencies into corporate strategies.

Based on CoinMarketCap data, the TRUMP coin’s price hovers at $12.74, securing a market dominance of 0.08%. The market cap stands at $2.55 billion, experiencing a 24-hour trading volume decline of 30.90%. Recent trends show varied price shifts with a 90-day fall of 44.37%, highlighting potential volatility.

According to Coincu analysis, Freight Technologies’ investment in TRUMP coins could potentially trigger increased scrutiny in crypto finance sectors. The long-term viability heavily relies on evolving regulatory landscapes and market dynamics, marking a significant shift for publicly traded companies.