Freight Technologies Seeks to Raise Up to $20 Million to Purchase Official Trump (TRUMP) Tokens

Minseung Kang

Summary

Freight Technologies announced plans to raise up to $20 million to purchase Official Trump (TRUMP) tokens.
The company issued an initial $1 million worth of convertible bonds and stated that an additional $19 million could be raised if conditions are met.
The purchase of TRUMP tokens is emphasized as part of Freight's digital asset portfolio diversification strategy.

Nasdaq-listed Freight Technologies is seeking to raise funds to purchase Official Trump (TRUMP) tokens. The company plans to issue convertible bonds (CB) worth up to $20 million to acquire the asset.

According to a Seeking Alpha report on the 1st (local time), Freight announced on the 30th of last month, "We have issued an initial $1 million worth of convertible bonds through a financial agreement with institutional investors, and if conditions are met, we can raise an additional $19 million." The company also explained, "The funds secured through this contract will be fully utilized for the purchase of TRUMP tokens."

Freight emphasized that this purchase of TRUMP tokens is part of its strategy to diversify its digital asset portfolio. Previously, the company purchased FET tokens from the AI-based project Fetch.AI for approximately $8 million.

Javier Selgas, CEO of Freight Technologies, stated, "Facilitating productive and balanced trade between the U.S. and Mexico is the company's core mission, and this purchase of TRUMP tokens reflects that philosophy."

TRUMP