The Trump family, particularly through their involvement with World Liberty Financial (WLF), a cryptocurrency and decentralized finance (DeFi) company, has engaged in a notable business arrangement with Pakistan. Here’s a detailed breakdown based on available information through OSINT and Artificial intelligence:
Direct Investments Related to Pakistan
- World Liberty Financial (WLF) and Pakistan Crypto Council (PCC) Partnership:
- WLF, a DeFi platform where the Trump family holds a 60% stake through DT Marks DEFI LLC, signed a letter of intent with the Pakistan Crypto Council in late April 2025. This agreement aims to promote blockchain innovation, stablecoin adoption, and decentralized finance integration in Pakistan.
- The Trump family members involved include Donald Trump (as “Chief Crypto Advocate”), Eric Trump, Donald Trump Jr. (both as “Web3 Ambassadors”), and Barron Trump (as “DeFi Visionary”). Jared Kushner, their brother-in-law, is also a stakeholder.
- The deal involves collaboration on regulatory sandboxes for blockchain financial products, expanding stablecoin use for trade and remittances, tokenizing real-world assets (such as real estate and commodities), and providing strategic guidance on blockchain infrastructure.
- WLF raised $300 million in October 2024 by selling 20 billion WLFI tokens at $0.015 each and plans to launch a stablecoin called USD1, pegged to the US dollar and backed by US Treasuries.
- This partnership does not explicitly mention direct ownership of Pakistani assets but involves significant cooperation with Pakistani entities to develop the country’s digital financial infrastructure, which could indirectly influence asset tokenization (e.g., real estate) in Pakistan.
Indirect Investments or Connections
- Involvement of Pakistani Nationals or Entities:
- The Pakistan Crypto Council, a newly formed entity (established in March 2025), is led by CEO Bilal Bin Saqib, who was appointed as an advisor to WLF. Additionally, Binance founder Changpeng Zhao (CZ), a prominent figure in the crypto world, was appointed as a strategic advisor to the PCC, lending credibility to the initiative.
- There is no evidence in the provided sources that WLF or the Trump family directly invests in companies owned by Pakistani nationals or Pakistan-origin persons in the USA. However, the partnership with the PCC, a government-affiliated body in Pakistan, creates a business relationship with Pakistani institutions.
- The delegation from WLF, including Zachary Witkoff (son of Steve Witkoff, a Trump associate), met high-profile Pakistani officials, including Prime Minister Shehbaz Sharif and Army Chief General Asim Munir, indicating a strong governmental backing for the deal in Pakistan.
Real Estate, Shares, or Other Assets
- Real Estate:
- There is no direct evidence from the sources that the Trump family has invested in real estate in Pakistan or with Pakistani nationals. Their real estate ventures are more prominently noted in the Middle East (e.g., Qatar, Saudi Arabia, Oman) through partnerships with entities like Qatari Diar and Dar Global.
- The WLF-PCC agreement mentions potential tokenization of real-world assets, such as real estate, in Pakistan, which could imply future indirect involvement in Pakistani real estate markets through blockchain-based assets. However, this remains speculative as no specific projects are confirmed.
- Shares or Companies:
- No specific information indicates that the Trump family holds shares in Pakistani companies or companies owned by Pakistani nationals or Pakistan-origin persons in the USA. Their primary investment vehicle in this context is WLF, which focuses on cryptocurrency and blockchain rather than traditional equity stakes in Pakistani firms.
- The Trump family’s business interests are channeled through DT Marks DEFI LLC, which owns 60% of WLF’s holding company, but this entity is not linked to Pakistani companies beyond the PCC partnership.
- Cryptocurrency:
- The WLF-PCC deal is the most direct link to cryptocurrency investments related to Pakistan. WLF’s stablecoin, USD1, launched in March 2025, has been used in international transactions, such as a $2 billion investment in Binance by Abu Dhabi’s MGX, but there’s no indication of direct crypto investments in Pakistani nationals or firms beyond the PCC collaboration.
- Pakistan ranks ninth globally in cryptocurrency adoption, with 25 million active users and $300 billion in annual transactions, suggesting a robust market that WLF aims to tap into through this partnership.
Concerns and Scrutiny
- Geopolitical and Ethical Concerns:
- The timing of the WLF-PCC deal, just days after the Pahalgam terror attack on April 22, 2025, which escalated India-Pakistan tensions, has raised questions about potential conflicts of interest, especially given Donald Trump’s claims of brokering a ceasefire between the two nations.
- Indian policy advisors have expressed concerns about the national security implications of Pakistani crypto exchanges potentially accessing Indian financial data, which could indirectly affect the Trump family’s business interests in the region.
- Critics, including The New York Times, have noted that WLF’s operations “eviscerate the boundary between private enterprise and government policy,” highlighting the unprecedented overlap between the Trump family’s business ventures and U.S. foreign policy.
- No Evidence of Pakistani-Origin Persons in the USA:
- The sources do not mention any specific investments by the Trump family in businesses or assets owned by Pakistan-origin persons in the USA. Their focus remains on international partnerships, particularly in Pakistan and the Middle East, rather than diaspora communities in the USA.
The Trump family’s most significant and documented investment related to Pakistan is their 60% stake in World Liberty Financial, which has partnered with the Pakistan Crypto Council to advance blockchain and cryptocurrency initiatives in Pakistan. This partnership, signed in April 2025, involves collaboration on blockchain infrastructure, stablecoin adoption, and potential asset tokenization, but it does not confirm direct ownership of Pakistani real estate, shares, or assets. There is no evidence of investments in Pakistani nationals, Pakistan-origin persons in the USA, or Pakistani companies beyond this crypto venture. The deal has drawn scrutiny for its timing and potential geopolitical implications, particularly amid India-Pakistan tensions.
If you need further analysis or have specific details to explore (e.g., particular Pakistani companies or individuals), please provide additional context, and I can refine the response.