While large companies are adopting Bitcoin (BTC) or Ethereum (ETH) as reserve assets, a surprising move came from a company listed on Nasdaq.
The logistics company Freight Technologies (Fr8Tech) listed on Nasdaq announced that it has reached an agreement to provide financing of up to 20 million dollars to purchase the token of U.S. President Donald Trump, Offical Trump (TRUMP).
Accordingly, the company is creating a corporate treasury of 20 million dollars to purchase TRUMP.
In the statement, the company noted that it has reached an agreement to issue convertible bonds of up to 20 million dollars with an unnamed institutional investor.
The agreement stated that the capital obtained from financing would be used only to purchase TRUMP tokens.
Fr8Tech CEO Javier Selgas stated, "We believe that adding TRUMP tokens is an excellent way to diversify our crypto treasure and also an effective way to advocate for fair, balanced, and free trade between Mexico and the US. Additionally, we see digital assets like TRUMP and FET as both symbolic and practical tools for innovation."
Fr8Tech announced that it purchased Fetch.ai worth 5.2 million dollars at the beginning of this month (FET).
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