FET Tokens

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Freight Technologies Secures up to USD $20 Million to Create an Official Trump Token ($TRUMP) Treasury
GlobeNewswire News Room· 2025-04-30 12:30
Core Viewpoint - Freight Technologies, Inc. (Fr8Tech) is strategically investing in Official Trump Tokens ($TRUMP) as part of its digital asset strategy, marking it as one of the first public companies to do so [1][2]. Group 1: Financial Strategy - Fr8Tech has entered into an agreement for the issuance of convertible notes with a facility of up to USD $20 million, specifically for purchasing Official Trump Tokens [1]. - The company plans to initially issue notes amounting to USD $1 million in the first tranche, with the potential for an additional USD $19 million in subsequent drawdowns [2]. Group 2: Market Positioning - The acquisition of FET Tokens, valued at approximately USD $8 million, is part of Fr8Tech's strategy to diversify its crypto treasury alongside the purchase of $TRUMP tokens [2]. - Fr8Tech aims to promote productive commerce between the United States and Mexico, highlighting Mexico as the top trading partner for the U.S. [2]. Group 3: Company Overview - Fr8Tech is a technology company focused on optimizing and automating supply chain processes through AI and machine learning, offering a range of proprietary platform solutions [4]. - The company's portfolio includes various services such as Fr8App for cross-border shipping, Fr8Now for less-than-truckload shipping, and Fleet Rocket for transportation management [4].
Freight Technologies Enters into Securities Purchase Agreement with Fetch Compute to Acquire Tokens in One of the Largest Decentralized Artificial Intelligence Computing Networks
Newsfilter· 2025-04-01 13:30
Core Insights - Freight Technologies, Inc. has entered into a Securities Purchase Agreement to acquire $5.2 million of FET Tokens from Fetch Compute, exchanging them for 2,311,248 Series A4 preferred shares [1][2] - The acquisition of FET Tokens aligns with the company's vision for scalable and secure AI solutions in the logistics market, enhancing its competitive advantage [2][3] - The CEO emphasized that this acquisition strengthens the company's commitment to logistics innovation and diversifies its balance sheet, aiming to empower clients with real-time visibility and supply chain transparency [3] Company Overview - Freight Technologies, Inc. is a technology company focused on optimizing and automating supply chain processes through AI and machine learning [4] - The company's portfolio includes various solutions such as Fr8App for cross-border shipping, Fr8Now for less-than-truckload shipping, and Fleet Rocket for transportation management [4] - The interconnected products aim to improve operational efficiency in logistics through innovative technologies like live pricing and real-time tracking [4] Strategic Partnerships - The acquisition of FET Tokens creates asset diversification and establishes a crypto treasury, allowing the company to introduce cryptocurrency into the Over-the-Road (OTR) carrier and logistics markets [7] - Freight Technologies plans to collaborate with Fetch.AI to further develop blockchain and AI technologies within the logistics sector [7]