Addentax’s CEO, Hong Zhida, stated that the initiative supports the company’s broader blockchain strategy by facilitating potential acquisitions of digital assets such as Bitcoin and introducing strategic investors with experience in the crypto ecosystem. “We believe that certain established digital assets can serve as a stable component of the company’s long-term ownership, given their liquidity and increasing institutional interest over the past few years,” said Zhida.
However, despite sounding promising, the market responded with skepticism. Addentax’s stock fell more than 8% after the announcement, reflecting investor concerns about this business shift. It’s not just about investment; Addentax’s move also sparked political speculation. The company operates in the cross-border logistics sector which was previously affected by US-China trade tensions, especially during the era of President Donald Trump.
The purchase of Trump-themed tokens raised suspicions that Chinese companies are beginning to look into crypto as a way to align politically or address regulatory risks. Two weeks earlier, another logistics company was also known to have bought $20 million worth of TRUMP tokens, strengthening rumors of a connection between business strategy and geopolitics.
Meanwhile, the global crypto market is showing strength. This comes after announcements from the US and China regarding reduced trade tariffs. US import tariffs on goods from China have been reduced from 145% to 30%, while China lowered tariffs from 125% to 10%.
