Freight Company Tells SEC It Needs Millions in $TRUMP to Get Access to the President

Donald Trump has promised to person meal with the apical holders of his cryptocurrency memecoin $TRUMP, creating a beauteous clear-cut accidental for buying entree to the person of the escaped world. Freight Technologies Inc., a North American-based shipping company, wants to instrumentality advantage. The firm’s CEO Javier Selgas precocious announced—publicly, connected purpose, with zero consequence—that it intends to acquisition arsenic overmuch arsenic $20 cardinal worthy of $TRUMP truthful that helium tin effort to power the president’s policies connected tariffs.

According to a Securities and Exchange Commission filing made by the company, it has tapped an organization capitalist to supply financing for an archetypal acquisition of $1 cardinal worthy of $TRUMP, with the anticipation of an further $19 million. Basically, it’s borrowing up to $20 cardinal to get a spot astatine the array with Trump. The institution isn’t shy astir that goal, either. In a press release, Selgas said the acquisition is portion of the company’s “promotion of productive and progressive commerce betwixt the United States and Mexico.”

The Trump Coin squad precocious announced that the apical 220 holders of the $TRUMP token would beryllium invited to enactment successful a backstage meal with Trump connected May 22, with a VIP reception and circuit for the apical 25 holders—a imaginable that instantly set disconnected alarm bells for immoderate tenable idiosyncratic who believes that you shouldn’t beryllium capable to get a travel to the White House for lining the pockets of the president. It wasn’t hard to ideate that someone—a CEO, crypto insider, overseas actor—would bargain up immoderate $TRUMP successful bid to get a spot astatine the array with him for a night. It astir apt was a small little expected for a institution to contented a property merchandise astir enacting that strategy.

Per the leaderboard connected the Trump Coin website, the $1 cardinal concern should beryllium capable to get Selgas and Freight Technologies successful the doorway for dinner. The existent apical holder of $TRUMP is Justin Sun, the laminitis of crypto level TRON, which was investigated by the SEC for allegedly manipulating the terms of the cryptocurrency. He holds astir $1.2 cardinal worthy of $TRUMP, and is 1 of lone 2 radical who presently person much than $400,000 worthy of the token.

Trump, for his part, is acting similar helium doesn’t cognize anything. During an quality connected NBC News’ Meet the Press implicit the weekend, Trump said “I haven’t adjacent looked” erstwhile asked if helium had profited disconnected his cryptocurrency, which launched soon earlier helium took bureau for the 2nd time. “If I ain banal successful something, and I bash a bully job, and the marketplace goes up, I conjecture I’m profiting,” helium said, which is simply a beauteous bully encapsulation of conscionable however heavy his knowing of the crypto space.

He doesn’t person to look to profit, of course. Around 80% of each $TRUMP coins are owned by 2 entities: CIC Digital, an affiliate of the Trump organization, and Fight Fight Fight LLC, which is co-owned by CIC Digital. So the immense bulk of the tokens are already successful Trump’s pockets. When radical bargain the token, like, for instance, erstwhile determination is an announcement that holding the coin could get you a backstage meal with the president, the terms goes up, and truthful does the worth of Trump institution holdings. They besides “receive trading gross derived from trading activities,” per the Trump Coin site, truthful they’re cashing successful connected each transaction, too.

Trump has ever been a transactional person. Now it conscionable happens to beryllium logged to the blockchain.