Freight Technologies Inc. (FRGT) Becomes the First Public Company to Adopt the Official Trump TRUMP/USD Meme Coin as a Treasury Reserve Asset

FRGT has become the first public company to adopt the Official Trump TRUMP/USD meme coin as a treasury reserve asset, as announced on Wednesday.

Freight Technologies Inc (NASDAQ:FRGT) has become the first public company to adopt the Official Trump TRUMP/USD meme coin as a treasury reserve asset, the company announced on Wednesday.

What Happened: The logistics management firm has agreed to the issuance of convertible notes of up to $20 million with an institutional investor, as disclosed in a press release. The proceeds from this financing will be "exclusively" allocated for integrating the TRUMP tokens into Freight Technologies’ treasury.

Plans are underway for the company to issue notes amounting to $1 million in the first tranche, with an additional capacity of up to $19 million available in subsequent drawdowns.

"We believe that the addition of the Official Trump tokens is an excellent way to diversify our crypto treasury and also an effective way to advocate for fair, balanced, and free trade between Mexico and the U.S.,” commented CEO Javier Selgas.

See Also: Jack Dorsey Upbeat On Block's Bitcoin Mining Chip Delivery In H2 2025, Sees 'Huge Opportunity' As China Tariffs Disruption Looms

Why It Matters: This decision comes in the wake of President Donald Trump announcing a new trade policy. As part of this policy, a 25% tariff will be imposed on all imports from Mexico and Canada that are not covered under the region's U.S.-Mexico-Canada trade pact.

Freight Technologies is recognized for its cross-border shipping services between the U.S. and Mexico.

Meanwhile, TRUMP has been making headlines as the top holders of the coin were invited to an exclusive dinner with Trump. The news sparked a buying frenzy but also attracted criticism, with one Democratic lawmaker labeling it an impeachable offense.

At the time of writing, TRUMP was exchanging hands at $12.50, down 4.73% in the last 24 hours, according to data from Benzinga Pro. The meme coin, launched before Trump’s presidential inauguration, was down 83% from its all-time highs.

Shares of Freight Technologies were down 3.53% in after-hours trading, after plunging 20% to $0.9848 on Thursday.

As of this writing, the stock was ranked lower in terms of momentum, a measure of an asset's relative strength based on price movement patterns and volatility across several timeframes. To find high-momentum stocks, visit Benzinga Edge Stock Rankings.

Photo Courtesy: Kirill Aleksandrovich On Shutterstock.com

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