Freight Technologies Inc., a North American shipping company, is buying up to $20 million of Trump’s meme coin, $TRUMP, in the hopes of influencing his tariff policy, HuffPost reports. Javier Selgas, the company’s CEO, said in a news release Wednesday that purchasing Trump’s digital token would be “an effective way to advocate for fair, balanced and free trade between Mexico and the U.S.”
The official website asserts that while 80 percent of Trump’s meme coins, $TRUMP and $MELANIA, are held by Trump-linked entities, the tokens aren’t an “investment opportunity” but simply a means of showing support for the president. “GetTrumpMemes.com is not political,” it claims, “and has nothing to do with any political campaign or any political office or governmental agency.”
Freight Technologies told the Securities and Exchange Commission in a filing last week that it had entered an agreement to issue convertible notes up to $20 million, which will be earmarked exclusively for the purchase of Trump’s meme coin, $TRUMP. In his statement, Selgas, the CEO, referred to Treasury Secretary Scott Bessent’s recent remark that “America First does not mean America alone.”
Trump’s claim that he doesn’t pay attention to the cash generated by his corrupt crypto scheme seems particularly far-fetched considering that the White House announced last month that it intends to throw an “intimate private” dinner for the meme coin’s 220 top holders, according to Politico.
That’s not even the only crypto scheme the president’s family is running—and in which Sun is participating. Late last year, Sun also bought a whopping $75 million of $WLFI, the token for World Liberty Financial, the decentralized finance platform majority-owned by a Trump business entity. A few months after Sun shelled out for $WLFI, the SEC asked a federal judge to halt his case.
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