The complete silence of World Liberty Financial Inc (WLFI) on its dealings with Pakistan Prime Minister Shehbaz Sharif has sharpened fears about the Trump clan exploiting political connections for financial gains. Pakistan Crypto Council CEO Bilal Bin Saqib conceded that the nation’s latest crypto-friendly actions are solely political and to counter what he described as “bad PR.”.
At the same time, the stony silence of World Liberty Financial Inc (WLFI) on its interactions with Pakistan Prime Minister Shehbaz Sharif has raised suspicions over the use of political connections by the Donald Trump family for commercial advantages.
Interestingly, the WLFI in April signed an agreement with the Pakistan Crypto Council after PM Sharif had been in touch with it. Presently, a US Senate subcommittee has questioned the company, which is controlled by the majority of the Trump family interests, regarding its interaction with the Pakistani government that resulted in the agreement. But the company remained tight-lipped.
At the same time, Saqib, a leading crypto bureaucrat in Pakistan, has signalled that the nation’s crypto transactions with the US are meant to enhance Islamabad’s PR. In other words, he said the actions are politically rather than economically motivated.
“Pakistan and Bitcoin have both been plagued by poor PR. We are viewed as being unstable, risky and dangerous. But if we get past all these headlines, then we have lots of potential, lots of resources and lots of talent. So Pakistan is seeking friends,” he told the annual meeting of the international cryptocurrency community in Las Vegas.
Saqib last month held a meeting with Chief of Army Staff Asim Munir, who has now been promoted to the rank of field marshal following a standoff with India, to spell out the ambitions of the country’s crypto industry.
