Trump’s Official Token Adopted As Treasury Reserve Asset By Nasdaq-Listed Company Seeking Fair, Free Trade Between US And Mexico
Freight Technologies Inc. (NASDAQ:FRGT) has become the first public company to adopt the Official Trump (CRYPTO: TRUMP) meme coin as a treasury reserve asset, as announced on Wednesday.
What Happened: The logistics management firm agreed to the issuance of convertible notes up to $20 million with an institutional investor, according to a press release. The proceeds from this financing will be “exclusively” allocated for purchasing TRUMP tokens.
Freight Technologies plans 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 …
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