Bilal Bin Saqib, the CEO of the Pakistan Crypto Council, recently revealed that the country’s push for cryptocurrency is not about boosting the economy. Instead, the real aim is to improve Pakistan’s global reputation. He said politics, not finance, is behind this move.
Crypto for Image Makeover
Speaking at a major cryptocurrency event in Las Vegas, Saqib explained why Pakistan has taken an interest in digital assets. He said, “Both Pakistan and Bitcoin have suffered from bad PR. We are looked at as being dangerous, risky and unstable. But once we look beyond these headlines, we can see a lot of potential, resources and talent. So Pakistan is looking for allies.”
According to him, Pakistan wants to fix its negative image by forming alliances and engaging in global crypto partnerships.
Trump-Linked Crypto Deal Triggers Concern
In April, a U.S.-based firm called World Liberty Financial Inc. (WLFI) signed an agreement with the Pakistan Crypto Council. This deal came after the company reportedly held direct talks with Prime Minister Shehbaz Sharif.
However, WLFI has not shared any details about those discussions. Its silence has caused concern in the United States.
Now, a U.S. Senate subcommittee is investigating the matter. Lawmakers want to understand how a company tied to the Trump family made this deal with Pakistan. So far, WLFI has refused to comment.
Inspired by the U.S. Crypto Path
Saqib also showed admiration for the United States. He stated, “We want to thank the US because we are getting inspired from them.” His words suggest that Pakistan is copying America’s crypto policies.
U.S. President Donald Trump had earlier signed an executive order to build a strategic Bitcoin reserve. This move may have influenced Pakistan’s latest crypto actions.
Trump Family’s Deep Crypto Involvement
Many members of the Trump family are involved in WLFI. Donald Trump Jr., Eric Trump, and Barron Trump are all named as “Web3 Ambassadors.” These positions involve promoting advanced crypto tools like Web3 wallets.
Additionally, one of WLFI’s co-founders is Zach Witkoff. He is the son of Steve Witkoff, a close Trump advisor and special envoy. Zach recently posted online that the partnership with Pakistan would “bring diversity and financial inclusion to the next generation in Pakistan and beyond.”
Ceasefire Claim Draws Dispute
Shortly after the deal, a terror attack in Pahalgam raised tensions between India and Pakistan. In the middle of the crisis, Donald Trump claimed that he had helped negotiate a ceasefire between the two nations.
Pakistan supported Trump’s version of events. But India strongly disagreed. Indian officials stated that the ceasefire resulted from direct bilateral talks, and the U.S. played only a limited role.