Amidst rising tensions between India and Pakistan, a controversial cryptocurrency deal involving former US President Donald Trump’s family and Pakistan has come to light. Trump’s son, son-in-law, and their company, World Liberty Financial (WLF), have entered into a significant agreement with Pakistan’s newly formed Crypto Council. Following the revelations, India has launched an investigation into the matter.
On April 22, a terrorist attack in Pahalgam, Jammu and Kashmir, claimed 26 lives, leading India to impose strict sanctions on Pakistan. However, just five days later, on April 27, Pakistan’s Crypto Council signed a deal with WLF, a cryptocurrency company partly owned by Trump’s family. The agreement aims to promote financial inclusion and drive digital transformation within Pakistan using blockchain technology.
The company’s major stakeholders include Trump’s son-in-law Jared Kushner, and his sons Eric and Donald Trump Jr., who collectively own about 60% of WLF. The deal was led on behalf of WLF by Jackery Witcoff, son of Steve Witcoff, a close associate of Donald Trump. Jackery met with Pakistan’s Prime Minister Shehbaz Sharif and Army Chief General Asim Munir as part of the delegation.
Pakistan recently established the Pakistan Crypto Council with the vision of making the country South Asia’s crypto capital. The council appointed Binance founder Changpeng Zhao as its advisor.
According to the deal, blockchain technology will be integrated into Pakistan’s financial institutions, enhancing security for blockchain-based financial products. There will be a focus on developing stablecoins for trade and remittances, and converting real estate and commodities into digital tokens. WLF will assist Pakistan in building a blockchain infrastructure and navigating global regulatory frameworks.
Questions arose soon after the Pahalgam attack regarding this deal. While WLF insists there is no political motive behind the agreement, India has taken the matter seriously and started a formal investigation. Experts have expressed concern over this alliance, citing potential implications for regional security and political dynamics.
The Trump family’s unusual move to engage with Pakistan under the cover of a ceasefire shows economic and political interests are at play behind the scenes. This matter is expected to undergo deeper scrutiny in the coming days.
