Pakistan’s Crypto Deal with Trump-Linked Firm Comes Days After Pahalgam Attack
The deal also raised eyebrows as WLF sent a delegation comprising Zachary Folkman, Chase Herro, and Zachary Witkoff, the son of Trump’s special envoy Steve Witkoff. What was even more intriguing was that the PCC was constituted in a hurried manner and the institution was barely a month old when these agreements were signed.
“(The) WLF … has signed a landmark Letter of Intent with the PCC to accelerate blockchain innovation, stablecoin adoption and decentralised finance integration across Pakistan,” a press statement by the finance ministry said.
The delegation also held meetings with the Pakistan Prime Minister, Chief of Army Staff, Deputy Prime Minister, and the Ministers of Information and Defence to formalise the cooperation.
WLF’s stakeholders include Eric Trump and Donald Trump Jr., along with their brother-in-law Jared Kushner, who have been actively pursuing global business ventures, often drawing criticism for allegedly capitalising on their ties to the White House. Steve Witkoff, a New York-based real estate billionaire like Donald Trump, is regarded as a key power broker in Washington, D.C., and a regular presence at Trump’s Mar-a-Lago resort in Florida.
WLF is a decentralised finance platform backed by President Trump, aimed at advancing cryptocurrency applications and promoting broader blockchain adoption. Launched last year, the platform is majority-owned by Trump and his affiliates, who hold a 60% stake. Trump has pledged supportive regulation for the crypto industry, and his administration has already scaled back enforcement actions against several major players in the sector.
Trump’s family stake in the crypto deal with Pakistan at a time when the US is offering to be a peacemaker is raising questions. Notably, the United States did a complete turnaround on its stand on the India-Pakistan escalation after Operation Sindoor on May 7. From “it is for them to sort out” to Trump announcing a ceasefire between the two nations, the US has completely shifted its stance.
Trump also reiterated his claim of brokering a ceasefire by offering favourable trade terms —a statement India has not acknowledged. Meanwhile, Pakistan’s high-profile crypto partnership with the Trump-backed WLF has stirred speculation, with many questioning whether this move into cryptocurrency is already yielding diplomatic and economic dividends to Islamabad.
