World Liberty Financial Inc (WLFI), a crypto firm with significant ownership by the Trump family, has raised eyebrows due to its silence regarding communications with Pakistan’s Prime Minister Shehbaz Sharif ahead of a recent deal.
In April, WLFI signed a pact with the Pakistan Crypto Council after discussions with PM Sharif. However, when a U.S. Senate subcommittee sought clarifications about these communications and the deal’s nature, WLFI did not respond, intensifying concerns about potential political leverage for business purposes by the Trump family.
Pakistan’s Political Maneuvering in Crypto Space
Bilal Bin Saqib, CEO of the Pakistan Crypto Council, openly acknowledged that the country’s increasing engagement with cryptocurrency is driven more by political strategy than economic fundamentals. Speaking at a global cryptocurrency event in Las Vegas, Saqib commented on Pakistan’s efforts to rehabilitate its international image, likening its situation to Bitcoin’s own reputation issues.
“Both Pakistan and Bitcoin have suffered from bad PR. We are often perceived as risky and unstable. However, beyond this perception lies significant potential, resources, and talent,” Saqib stated, emphasizing Pakistan’s aim to forge new alliances through crypto initiatives.
Strategic Alignments and Diplomatic Overtones
Last month, Saqib met with Pakistan’s Chief of Army Staff, Asim Munir, recently promoted to field marshal, to discuss the ambitions of Pakistan’s burgeoning crypto sector. The country’s interest in cryptocurrency is seen by many as a strategic move to strengthen business relations with influential U.S. political figures, notably the Trump family.
Saqib credited inspiration from the U.S., referencing President Trump’s March executive order aimed at creating a strategic Bitcoin reserve.
The involvement of Trump’s sons, Donald Jr. and Eric, and grandson Barron as “Web3 Ambassadors” for WLFI, alongside the firm’s co-founder Zach Witkoff—son of Trump’s special envoy Steve Witkoff—has sparked further scrutiny.
On social media, Zach Witkoff highlighted the deal’s potential to foster diversity and financial inclusion in Pakistan and beyond.
Geopolitical Context
The deal comes against a backdrop of heightened tensions between India and Pakistan, particularly following the Pahalgam terror attack. During this period, Donald Trump claimed to have facilitated a ceasefire between the two nations—a claim endorsed by Pakistan but disputed by India, which maintains the agreement was bilateral with limited U.S. involvement.
The interplay between diplomatic developments and crypto business interests underscores the complex nexus of politics, finance, and international relations surrounding this deal.
