World Liberty Financial has developed close ties to the Pakistani government.

In January, Zach Witkoff sat down at a table in Islamabad and signed a deal with Pakistan’s finance minister. Witkoff is the young CEO of Donald Trump’s crypto finance firm, World Liberty Financial, and the arrangement he struck that day would allow WLF’s stablecoin to be used for Pakistan’s cross-border transactions.

It was a hugely consequential moment for World Liberty. Despite Trump’s association and the involvement of his sons, this firm hasn’t exactly lit the blockchain world on fire. The value of the company’s token has plummetted from 31 cents to just 8 cents in recent months. World Liberty could use a deal like this—a government vouching for and endorsing the use of its coin. And the deal was being consummated, standing behind Witkoff was General Asim Munir, the top officer in Pakistan’s army.

Munir has been a frequent visitor to the Trump White House and is a chief architect of Pakistani efforts to mediate an end to the Iran war. That means he’s working with Witkoff’s father, Steve Witkoff, the billionaire New York City real estate developer who Donald Trump appointed to be his Mideast envoy. The elder Witkoff will join Vice President JD Vance and presidential son-in-law Jared Kushner at the negotiating table on Saturday, facing off with Iran’s negotiators in talks being brokered by Pakistan.

The Witkoff connection is not a coincidence. It’s another example of how the Trump crew is mixing business—their personal financial business—with US foreign policy.

  • red_green_black@slrpnk.netEnglish
    0·
    16 days ago

    So funny thing is I have heard that Iran is looking at having their tolls paid in crypto.

    It’s speculation to my knowledge but if there is any truth that might have some explication to why Trump’s crypto firm is in the mix.

    • HellsBelle@sh.itjust.worksOPEnglish
      0·
      16 days ago

      Yup.

      Iran will require ships passing through the Strait of Hormuz to pay the cryptocurrency equivalent of $1 per barrel of oil on board during the two-week ceasefire with the U.S, a key figure told the Financial Times.

      He said that it will cost $1 per barrel of oil and that ships need to email Iranian authorities about what they are carrying.

      “Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in bitcoin, ensuring they can’t be traced or confiscated due to sanctions,” Hosseini told the newspaper.

      https://thehill.com/policy/energy-environment/5821752-iran-ship-toll-cryptocurrency-strait-hormuz/