Freight business discloses to SEC that significant funds in TRUMP necessary for gaining access to the President
Freight Technologies Inc., a North American-based shipping company focused on U.S.-Mexico cross-border trade, has cooked up a $20 million plan to get cozy with Donald Trump and his memecoin, $TRUMP. The move sets a clear-cut path for buying influence with the leader of the free world.
According to a public announcement by CEO Javier Selgas, the company intends to invest up to $20 million in $TRUMP. To begin, it's borrowing $1 million from an institutional investor, with the possibility of an additional $19 million. The goal? Score a coveted spot at the table with Trump. And Selgas ain't shying away from it, stating that the purchase is part of promoting "active commerce between the United States and Mexico."
Freight Technologies isn't alone in this quest. The top 220 holders of $TRUMP were invited to a private dinner with Trump on May 22, with a VIP reception and tour for the top 25. This little invitation immediately sends up red flags for anyone who thinks you shouldn't be able to secure a trip to the White House simply because you've lined Trump's pockets.
It's not far-fetched to envision someone-say, a CEO, crypto insider, or foreign actor-purchasing some $TRUMP to score a sit-down with the president. It's a bit more surprising, however, when a company decides to make a press release announcing their strategy to do just that.
Donald Trump is acting like he hasn't got a clue. When asked by NBC News during the weekend if he's made any profits from his cryptocurrency, Trump stated that he "hasn't even looked." He added, "If I own stock in something, and I do a good job, and the market goes up, I guess I'm profiting." It's a pretty good summary of his understanding of the crypto space, to put it mildly.
Trump doesn't need to look to cash in, really. Around 80% of all $TRUMP coins are owned by two entities: CIC Digital, an affiliate of the Trump organization, and Fight Fight Fight LLC, which is co-owned by CIC Digital. So the majority of the tokens are already in Trump's possession. Whenever someone buys the token, say, when there's an announcement of holding it could get you a private dinner with the president, the price goes up, and so does the value of the Trump company's holdings. They also "receive trading revenue derived from trading activities," per the Trump Coin site, so they're cashing in on each transaction, too.
Trump's always been a transactional guy. Now, it just happens to be recorded on the blockchain.
- Freight Technologies Inc., intending to promote active commerce between the United States and Mexico, plans to invest up to $20 million in Donald Trump's memecoin, $TRUMP.
- Javier Selgas, the founder of Freight Technologies, has announced that the company will borrow $1 million from an institutional investor, with the possibility of an additional $19 million, to buy $TRUMP.
- The future of tech news providers like Gizmodo and general-news outlets could delve into the political and financial implications of companies financing their interests through technology like memecoins.
- In the tech sphere, tariffs and politics might not traditionally intersect, but with moves like Freight Technologies' investment in $TRUMP, the intersection becomes more tangible.
- The founder of Freight Technologies' clear intention to buy influence with Donald Trump has sparked concerns about the role of financing in determining access to high-level business and political discussions.
- As technology advances and intertwines with finance and political power, it's probable that more instances of companies using memecoins or other technologies to secure meetings with influential figures will emerge in the future.