Pakistans Dubious Crypto Deal Linked to Trumps Family Venture, Terror Funding Report

The United States has recently demonstrated a notable change in its interaction with Pakistan, going beyond traditional diplomatic relations.

At the center of this transformation is a cryptocurrency deal that seems more like a financial alignment and less a traditional economic cooperation between the Trump family's crypto business and Pakistan's military-connected funds, with an involved network of contentious individuals, as per a DisInfo Lab report.

One of the key players in this alliance is Bilal bin Saqib, a British-Pakistani businessperson who is both CEO of Pakistan's new Crypto Council (PCC) and Special Assistant to the Prime Minister on Blockchain.

Interestingly, Bilal is also a World Liberty Financial (WLF) advisor, the Trump family's cryptocurrency firm. WLF has a 40% stake shared by Eric Trump, Donald Trump Jr., and Jared Kushner, who all collectively own it, with Donald Trump as "co-founder emeritus" listed.

The Pakistan-WLF deal was signed on April 26, as tensions with India were increasing. Bilal had only recently become an advisor to WLF, just a week earlier, on April 15, and by May was named CEO of the PCC. This dual role makes him a bridge between Pakistan's crypto efforts and Trump family interests in the United States.

Bilal had met with a broad spectrum of American political figures and influencers by June, including Senator Cynthia Lummis, co-sponsor of the Bitcoin Act; Banking Committee's Senator Bill Hagerty; White House advisors; and Mayor Eric Adams of New York City. During these meetings, he advocated Pakistan's "crypto vision" while maintaining his advisory position at WLF.

The DisInfo Lab report further alleged that the Pakistan-WLF crypto transaction "opened doors for money laundering and is even providing momentum for terror-funding," with Binance providing an easy platform. Binance, a cryptocurrency exchange that happens to be among the world's largest, has long been accused of enabling illicit financing.

Even as it distanced itself publicly from China, Binance has maintained business relationships there. Its CEO, Changpeng Zhao (CZ), has close ties through his business partner Yi He, Yixia Technology's Vice President, who is partially owned by the Chinese Communist Party. Binance has also invested in China several times and demanded operational autonomy.

CZ himself also has a murky legal background, including a four-month jail term for assisting money laundering that aided terrorist groups. In November 2023, the US Department of Justice, Treasury, and Commodity Futures Trading Commission fined Binance a record $4.3 billion collectively for routing money to Hamas, al-Qaeda, and ISIS, conducting $1.1 million of transactions with Iran in breach of US sanctions, and not adhering to minimum anti-money laundering controls. Both CZ and Binance pleaded guilty.

Internationally, Binance has faced similar scrutiny. France accused the platform of money laundering and terror financing; India’s Financial Intelligence Unit fined it Rs 188 million for violations; and Canada’s Financial Transactions and Reports Analysis Centre levied a $6 million CAD penalty.

In spite of this history, CZ was made "Strategic Advisor" to Pakistan's Crypto Council, making him the second most important person in the Pakistan-WLF crypto network along with Bilal bin Saqib. His tainted past in money laundering and terror-financing charges makes the appointment extremely controversial.

The report also mentions Bilal's network of shady businesses. Several of these are registered at the same location, have inactive websites, and provide no financial data, indicating shell companies. Bilal's sister, Minahil, has 75% stakes in Tayaba UK, which collaborates with Al Mustafa Trust (AMT).

AMT, while nominally a charity, is widely seen as a military-controlled slush fund benefiting retired officers from Pakistan’s Army, Navy, and Air Force. It is part of a broader set of “Milbus” ventures, which channel military capital to Pakistan’s officer class outside the official defense budget.

Ever since the crypto deal was signed in May 2025, relations between the US and Pakistan have intensified in full view of the world. Twice in two months, Pakistan's Army Chief Asim Munir visited the US, new bilateral treaties were inked, and as a symbolic action, Pakistan even proposed Donald Trump for the Nobel Peace Prize.

This convergence is raising eyebrows. The convergence of the Trump family's crypto business, Pakistan's military-tied money, and Binance's tainted history has brought about what one would call "crypto diplomacy." A Chinese-connected crypto tycoon who has been convicted of crimes, an American political dynasty with a high public profile, and Pakistan's military aristocracy now occupy the center of this new coalition.