Company Drops $20M On Trump Crypto: What Could Possibly Go Wrong? 😬

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What to know:

  • So Freight Technologies, whose market cap is basically “two middle-class houses in LA,” is investing up to $20 million in something called the Official Trump Token. Yeah. That’s a thing apparently. 🤷‍♂️
  • The shares? Shot up 111% because why not, everyone’s drinking the Kool-Aid. Then they plummeted 21.6% after hours. Because, you know… gravity. 🪂

Alright, picture this: Freight Technologies (FRGT)—a little logistics tech company you’ve never heard of, with a $4.8 million market cap—decides, hey, let’s shake up U.S.-Mexico trade! But instead of, I dunno, actual business strategy, they announce they’re buying $20 million in Trump meme coins. You heard me. Trump. Meme. Coins.

These brainiacs scored funding with a convertible note (which, let’s be honest, sounds like something you cash in at Chuck E. Cheese), and they’ve already got $1 million burning a hole in their pocket and itching for some TRUMP tokens.

Apparently, they just love shoving weird stuff into their “crypto treasury.” They already dropped cash on these AI coins too. Because if there’s one thing this world needs, it’s more algorithms running on meme coins.

Look, it’s not entirely original—Michael Saylor practically built a bitcoin shrine, and companies everywhere are jumping into the crypto kiddie pool. You got Semler, Cantor, even some Japanese hotel chain who just can’t stop buying bitcoin. Now Freight wants to get in on the fun… but with way less money and way more chutzpah.

But here’s the twist: Freight isn’t buying these tokens for fun. Oh no. They actually want to influence U.S.-Mexico trade negotiations. Like, just toss $20 million of meme coins into the air and hope the wind changes in your favor. It’s so crazy I almost respect it.

The CEO, Javier Selgas, pops up with lines like, “This is great for our treasury and—oh by the way—it’ll totally help with fair trade between the U.S. and Mexico.” Sure, Javier. And wearing a Yankees cap is gonna fix traffic on the 405.

But c’mon, let’s get real: if you think politicians can be bought by a memecoin, you’re not wrong, but you’re also kind of right, which is the most frustrating kind of wrong. Even Trump’s promising a dinner to the top token holders! Meanwhile, Democratic lawmakers are clutching their pearls and yelling “impeachment!” I’ve seen more subtlety in a supermarket tabloid.

Senator Jon Ossoff, by the way, calls out this whole dinner-with-Trump-for-crypto thing as “selling access.” Like anyone expected anything less. If you want subtle, you probably shouldn’t start with Trump or crypto.

And why is Freight doing all this? Because their stock price is lower than my enthusiasm at a vegan barbecue. It tanked 90% last year, so hey, what’s left to lose?

FRGT’s main thing is trying to modernize cross-border trading with apps and tech, but apparently, app development got boring, so now it’s meme coins or bust.

Oh, and don’t forget—other companies are climbing aboard the crypto clown car too. DWF Labs threw $25 million at some decentralized finance thingy partly run by Trump’s family. Next thing we’ll hear, you buy enough tokens and you get to play golf at Mar-a-Lago.

The payoff? Trump coins are up 0.1% today, 42% in the last month, and 100% in everyone’s nightmares. But hey—when reality stops making sense, it’s time to double down on crypto.

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2025-05-03 20:14