Illicit Power through Cryptocurrency: TRUMP as the U.S. Executive Token
Freight Technologies, a Texas-based logistics company, has made a bold move by announcing its intention to make Donald Trump tokens the cornerstone of its digital asset strategy. The company's stock price has seen a significant surge, rising almost 50 percent, following this announcement.
The company's CEO, Javier Selgas, has stated that the move is part of a mission to foster productive and active trade between the US and Mexico. However, the company's financial health has been a cause for concern, with a cash flow of minus two million dollars and revenue of $470,000. Freight Technologies' stock price has plummeted by 99.95 percent over the last five years, and its current market capitalization stands at a mere $3.28 million.
In an attempt to grab Trump's attention, Freight Technologies has been buying Trump tokens. The Trump token, once a simple memecoin, is now a governance token for the United States, according to recent developments. This purchase is seen by many as a desperate attempt to lift the stock price, given the company's precarious financial situation.
Freight Technologies has raised $20 million through the issuance of a convertible bond to fund this move. The company has also issued shares to buy $5.2 million worth of FET tokens, the governance tokens for Fetch.ai's decentralized AI ecosystem.
The Trump token's transformation from a memecoin to a governance token has not been without controversy. Some have suggested that the Trump token served as the foundation for a scam one level down. However, the founder of Freight Technologies, the logistics company that purchased Trump tokens, remains unnamed in the provided search results.
In a surprising turn of events, Donald Trump recently announced that he would invite the top 220 holders of his memecoin to a dinner at the White House, with the top 25 investors getting a private audience. This announcement has added another layer of intrigue to the already fascinating story of the Trump token.
Despite the controversy, it is clear that Freight Technologies' move to invest in Trump tokens instead of bitcoin has turned heads. Whether this move will prove to be a smart business decision remains to be seen. As the story unfolds, one thing is certain - Freight Technologies is making headlines with its unconventional digital asset strategy.
