A controversial cryptocurrency deal between a Trump family-backed company and Pakistan’s government is drawing scrutiny as President Donald Trump unexpectedly offers to mediate between India and Pakistan during heightened tensions.
The Suspicious Timing
Just days after terrorists killed 26 tourists in India’s Pahalgam region, sparking military clashes between the nuclear-armed neighbors, a little-noticed deal was signed in Islamabad:
- April 26: World Liberty Financial (WLF), where Trump’s family holds a 60% stake, partners with Pakistan’s newly formed Crypto Council
- May 7: India launches retaliatory strikes on Pakistani terror camps
- May 12: Trump volunteers to mediate the conflict, praising both nations’ leadership
The Trump Crypto Connection
The WLF deal includes plans to:
- Develop Pakistan’s cryptocurrency regulations
- Tokenize real estate and commodities
- Promote adoption of WLF’s USD1 stablecoin
Notably, WLF’s stablecoin was recently used in a $2 billion investment in Binance by Abu Dhabi’s MGX – raising conflict-of-interest concerns among U.S. lawmakers.
Why This Matters
- Business Over Diplomacy? Critics question whether Trump’s mediation offer serves geopolitical interests or protects his family’s financial stake in Pakistan’s crypto market.
- Stablecoin Scrutiny Democratic Senator Elizabeth Warren has called WLF’s dealings “corruption,” noting pending stablecoin legislation.
- Binance Links The exchange’s founder CZ now advises Pakistan’s Crypto Council, adding another layer to this complex web.
The Bigger Picture
With Trump’s special envoy to the Middle East (and father of WLF’s co-chair) simultaneously negotiating Syria sanctions relief, observers see a pattern of mixing family business with foreign policy. As Pakistan moves to legalize cryptocurrency, this deal – and Trump’s sudden peacemaking urge – raises uncomfortable questions about where presidential duties end and business interests begin.
