Calls for investigation into links between Donald Trump's crypto business and Pakistan

A political and legal controversy has erupted in the US over the links between 'World Liberty Financial', a cryptocurrency company associated with the family of US President Donald Trump, and Pakistan. According to a BBC report, following the success of Democratic party leaders in the US midterm elections, they intend to use congressional investigative powers to probe the Trump family's crypto business and its foreign connections.

At the center of this controversy is World Liberty Financial, which was founded by Donald Trump's sons and the children of Steve Witkoff, the US Special Envoy for the Middle East. President Donald Trump has claimed that he is separate from this company. However, questions have long been raised regarding the company's foreign investors, partnerships with other countries, and the financial interests of the Trump family.

In a statement sent to the BBC, Pakistan's Virtual Assets Regulatory Authority (PVARA) clarified that Pakistan has not made any investment in World Liberty Financial. According to the PVARA, the relationship between Pakistan and the company has been limited to discussions on technical cooperation and the possibilities of future financial arrangements.

On the other hand, World Liberty Financial spokesperson David Waxman told the BBC that an entity associated with the company signed an agreement with the Pakistani government in 2025. The main purpose of this agreement was to explore the possibilities of incorporating stablecoins pegged to the US dollar into the financial system.

According to the sequence of events, the Pakistani government established a crypto council in March 2025. Subsequently, in April 2025, a 'letter of intent' was signed with World Liberty Financial (WLF) under this council. A letter of intent is a preliminary document that outlines the basic terms, expectations, and mutual consent between both parties before a final agreement.

Thereafter, on 14 January 2026, Pakistan signed an MoU (Memorandum of Understanding) with World Liberty Financial. Present at the signing of this significant agreement were several high-ranking officials, including Pakistani Prime Minister Shehbaz Sharif, Chief of Defence Forces Field Marshal Asim Munir, and WLF Chief Executive Officer Zakaria Witkoff.

This entire issue intensified when Donald Trump was questioned about his crypto business on the American broadcaster CBS's program '60 Minutes'. During the program, Trump was asked about his sons managing World Liberty Financial and the fact that investors linked to the United Arab Emirates (UAE) government also have a stake in the company. In response, Trump said, "I don't know anything about that."

Trump further stated, "My sons run it. It's very hard to explain to them that I'm the president, so they shouldn't do anything for four years." When asked if foreign investors were looking for an opportunity to increase their influence in the American government in this way, Trump replied that he did not know whether foreign investors thought that way or not.

On questions regarding conflict of interest, Donald Trump argued that such questions are associated with every American president. He said that this problem is not just associated with him, but every president from the time of George Washington to the present has had to face such a situation in one form or another. According to Trump, presidents in every era have had their own commercial or financial interests.

Currently, Democratic party leaders, given the seriousness of these foreign connections, are pushing for a formal investigation using congressional investigative powers so that the relationship between the Trump family's financial interests and foreign governments can be clarified.