The shares of the company that will invest in TRUMP coin have tripled.

Houston-based logistics company Freight Technologies announced that it will invest up to 20 million dollars in the TRUMP coin named after U.S. President Donald Trump. Following this development, the company's shares quickly gained 283 percent in value.

The company stated that it will position the TRUMP coin as a cornerstone of its digital asset reserves. This investment is seen as part of the company's digital asset strategy that began with the rapid increase of the $5.2 million FET token it previously acquired from Fetch.ai to $8 million.

However, the timing of the investment announcement raised doubts among some investors. Last week, Democratic Senators Elizabeth Warren and Adam Schiff labeled the gala dinner that Trump would hold for TRUMP coin investors as bribery and unethical, and subsequently requested an investigation into the matter. Freight, on the other hand, did not address these controversies in its press release; it only focused on the potential of the coin's cryptocurrency reserve strategy.

Although the market value of TRUMP coin had risen to 8 billion dollars at the beginning of the year, it has lost more than 75% of its value so far. Following the Gala news, the cryptocurrency temporarily increased by 60% but then experienced a decline again.

TRUMP is trading at a level of 11 dollars at the time the news was written.

Published: May 5, 2025 16:06