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Economic Times
11 hours ago
- Politics
- Economic Times
Munir's two-card trick: How Pakistan's crypto pitch and Nobel flattery won Trump's favour
General Asim Munir strategically engaged with Donald Trump, securing a White House lunch and praise for Pakistan's restraint with India. Munir's charm offensive included a crypto initiative involving Trump's sons, aiming to position Pakistan as a crypto hub. This move subtly sidelined Pakistan's civilian leadership and publicly snubbed India's rejection of US mediation. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In a deft diplomatic manoeuvre that cost Pakistan little but delivered big returns, Army Chief General Asim Munir has successfully reinserted Islamabad into Washington's strategic radar, by flattering US President Donald Trump and feeding his long-standing craving for the Nobel Peace result: a private lunch at the White House between Munir and Trump, public praise for Pakistan's restraint following a recent military flare-up with India, and a notable snub to both Pakistan's civilian leadership and New Delhi.'The reason I had him here was I wanted to thank him for not going into the war (with India) and ending it,' Trump said after hosting Munir. 'I was honored to meet him today.' Trump also gave credit to Prime Minister Narendra Modi, saying, 'Two very smart people decided not to keep going with the war. Those are two big nuclear powers.'But with India having publicly rejected a US role in de-escalating tensions, it was Munir who ended up with the spotlight. The White House itself disclosed that the real reason for the lunch invitation was Munir's push for Trump to receive the Nobel Peace Prize for helping dial down tensions between India and flattery struck a chord with Trump, who has repeatedly complained that he has been unfairly denied the honour. 'They gave one to Obama immediately upon his ascent to the presidency, and he had no idea why he got it. You know what? I got us out of wars. I made deals that nobody thought were possible,' Trump has often Munir's charm offensive didn't stop with the Nobel. In April, he laid the groundwork with a crypto initiative that tapped into Trump-world business interests. A US-based cryptocurrency firm, World Liberty Financial (WLF), signed a Letter of Intent with the Pakistan Crypto Council (PCC), giving WLF the right to spearhead blockchain integration across Pakistani financial institutions. The partnership also aimed to explore asset tokenization, stablecoins, and DeFi pilot projects, part of a broader plan to position Pakistan as 'the crypto capital of South Asia.'What made the deal particularly intriguing in Washington circles was WLF's ownership: Trump's sons Eric and Donald Jr., along with son-in-law Jared Kushner, collectively hold a 60% stake in the company. The delegation to Islamabad was led by Zachary Witkoff, whose father Steve Witkoff, a long-time Trump associate, currently serves as the US Special Envoy to the Middle Munir personally welcomed the group and later held a closed-door meeting with Pakistan's Prime Minister Shehbaz Sharif, which helped seal the high-level access in Washington. The White House lunch, though private, was kept secret for weeks to avoid backlash from Pakistani expats loyal to former PM Imran Khan, who remains in custody under the military's watch.
Time of India
13 hours ago
- Politics
- Time of India
Munir's two-card trick: How Pakistan's crypto pitch and Nobel flattery won Trump's favour
General Asim Munir strategically engaged with Donald Trump, securing a White House lunch and praise for Pakistan's restraint with India. Munir's charm offensive included a crypto initiative involving Trump's sons, aiming to position Pakistan as a crypto hub. This move subtly sidelined Pakistan's civilian leadership and publicly snubbed India's rejection of US mediation. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In a deft diplomatic manoeuvre that cost Pakistan little but delivered big returns, Army Chief General Asim Munir has successfully reinserted Islamabad into Washington's strategic radar, by flattering US President Donald Trump and feeding his long-standing craving for the Nobel Peace result: a private lunch at the White House between Munir and Trump, public praise for Pakistan's restraint following a recent military flare-up with India, and a notable snub to both Pakistan's civilian leadership and New Delhi.'The reason I had him here was I wanted to thank him for not going into the war (with India) and ending it,' Trump said after hosting Munir. 'I was honored to meet him today.' Trump also gave credit to Prime Minister Narendra Modi, saying, 'Two very smart people decided not to keep going with the war. Those are two big nuclear powers.'But with India having publicly rejected a US role in de-escalating tensions, it was Munir who ended up with the spotlight. The White House itself disclosed that the real reason for the lunch invitation was Munir's push for Trump to receive the Nobel Peace Prize for helping dial down tensions between India and flattery struck a chord with Trump, who has repeatedly complained that he has been unfairly denied the honour. 'They gave one to Obama immediately upon his ascent to the presidency, and he had no idea why he got it. You know what? I got us out of wars. I made deals that nobody thought were possible,' Trump has often Munir's charm offensive didn't stop with the Nobel. In April, he laid the groundwork with a crypto initiative that tapped into Trump-world business interests. A US-based cryptocurrency firm, World Liberty Financial (WLF), signed a Letter of Intent with the Pakistan Crypto Council (PCC), giving WLF the right to spearhead blockchain integration across Pakistani financial institutions. The partnership also aimed to explore asset tokenization, stablecoins, and DeFi pilot projects, part of a broader plan to position Pakistan as 'the crypto capital of South Asia.'What made the deal particularly intriguing in Washington circles was WLF's ownership: Trump's sons Eric and Donald Jr., along with son-in-law Jared Kushner, collectively hold a 60% stake in the company. The delegation to Islamabad was led by Zachary Witkoff, whose father Steve Witkoff, a long-time Trump associate, currently serves as the US Special Envoy to the Middle Munir personally welcomed the group and later held a closed-door meeting with Pakistan's Prime Minister Shehbaz Sharif, which helped seal the high-level access in Washington. The White House lunch, though private, was kept secret for weeks to avoid backlash from Pakistani expats loyal to former PM Imran Khan, who remains in custody under the military's watch.
Time of India
a day ago
- Politics
- Time of India
A two card trick: How Pakistan's crypto gambit and Nobel ploy turned Trump
The TOI correspondent from Washington: The ploy was plain and didn't cost Pakistan a cent. By the simple expedient of massaging Donald Trump's ego and playing on the US President's long-stated desire for a Nobel Peace Prize as a "peace-maker," Pakistan's army chief Asim Munir has manoevered his country back into the US calculus. In the process, he has trumped both his domestic rivals and Pakistan's civilian leadership -- by gaining recognition as the country's de facto ruler -- and New Delhi, which holds him responsible for triggering war with India by initiating the Pahalgam terrorist attack following an incendiary speech. 'I was honored to meet him today,' Trump gushed after a private lunch he hosted for Munir in the White House. 'The reason I had him here was I wanted to thank him for not going into the war (with India) and ending it.' Of course, Trump also praised Prime Minister Modi for the de-escalation, saying, 'Two very smart people decided not to keep going with the war. Those are two big nuclear powers.' But considering New Delhi had just repudiated a mediatory US role, Munir took the plaudits. Shortly before the lunch, the White House itself candidly revealed the basis for the invitation: Munir's advocacy for Trump to receive the Nobel Peace Prize -- ostensibly for his efforts in de-escalating the India-Pakistan military standoff. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 75% off installation for LeafFilter LeafFilter Gutter Protection Learn More Undo This played into the US President's long-standing grouse that he has been denied a Nobel despite his record as a peace-maker. "They gave one to Obama immediately upon his ascent to the presidency, and he had no idea why he got it. You know what? I got us out of wars. I made deals that nobody thought were possible," Trump complained in one of his numerous public gripes on the Nobel issue. Even before playing the Nobel card, Munir had laid the foundation for his Trump outreach with a crypto gambit that fit well with the prevailing culture of grift and greed in Washington DC. In April, a privately-owned US cryptocurrency firm, World Liberty Financial (WLF), signed a Letter of Intent with Pakistan's nascent Crypto Council (PCC). The agreement grants WLF the authority "to integrate blockchain technology across Pakistan's financial institutions, paving the way for asset tokenization, stablecoin development, and the establishment of regulatory sandboxes for decentralized finance (DeFi) pilot projects," all aimed at transforming Islamabad into the "crypto capital of South Asia" and a "global leader in the digital finance revolution. " WLF is notably connected to the Trump family, with President Trump's sons Eric and Donald Junior, as well as his son-in-law Jared Kushner, collectively holding a 60 percent stake in the company. WLF delegation that traveled to Islamabad was led by Zachary Witkoff, the son of Steve Witkoff, a long-time business associate of Donald Trump and currently the US Special Envoy to the Middle East. Munir personally welcomed the delegation and also participated in a closed-door meeting alongside Pakistan's Prime Minister Shehbaz Sharif, paving way for a White House invitation that was kept under wraps for several weeks to forestall protests by Pakistani expats allied with former Prime Minister Imran Khan, incarcerated by the Pakistani military.
Arabian Post
a day ago
- Business
- Arabian Post
Trump Family Trims Crypto Venture Stake
Donald Trump's family has quietly reduced its stake in World Liberty Financial, the crypto venture closely tied to his business and political interests, trimming its holding from 60 per cent to 40 per cent after June 8. The move marks a significant shift in the family's involvement in the blockchain sector. The reduction in equity coincided with a rising valuation for WLF, which earlier sold US$550 million in its native $WLFI tokens and has attracted substantial foreign investments, including a US$2 billion infusion from a UAE-backed entity using its stablecoin USD1 for Binance transactions. Analysts estimate the 20 per cent stake sale could have fetched around US$190 million, with approximately US$135 million potentially going to Donald Trump personally. World Liberty Financial, launched during the 2024 election cycle, has been a central hub of the Trump family's crypto strategy. The firm is a decentralised finance protocol that aggressively markets its connection to Trump, listing him as 'chief crypto advocate' and involving his sons in senior Web3 roles. Under its structure, Trump-linked entities capture 60 per cent of ownership and 75 per cent of token sale revenues. ADVERTISEMENT The firm's high-profile stablecoin USD1, launched in March 2025, swiftly became one of the top five global stablecoins, with a circulating supply exceeding US$2 billion by April. In May, the WLF stablecoin was chosen by an Abu Dhabi investment fund to purchase US$2 billion in Binance shares—a deal criticised for merging private enterprise and diplomatic influence. Critics have raised concerns that the share reduction, lacking any formal announcement, typifies the project's secretive nature and the family's opaque handling of crypto profits. DT Marks DEFI LLC—an entity renamed from DT Tower II LLC in 2024 and fully owned by Trump family—holds the WLF stake. Ownership structure has branched out to include Don Jr., Eric, and Barron Trump, each holding minor positions alongside their father within the DEFI entity. The lack of disclosure prompted scrutiny, and no official response has emerged from the Trump Organisation or WLF regarding the transaction. This latest move mirrors an earlier reduction in January 2025, when the family lowered its control from 75 per cent to 60 per cent. The pivot comes amid intensifying criticism of World Liberty's entanglement with state and family interests. Steve Witkoff—Trump's Middle East envoy—is linked to key dealmaking, with his son Zach co-founding WLF. Their collaborative efforts to court foreign investment from UAE and Pakistan have sparked concern over potential conflicts between diplomatic roles and private profit. Legal experts and ethicists question the blending of public service and personal gain in a venture that funnels income to the Trump and Witkoff families while concurrently lifting Trump administration deregulatory actions on digital assets. The share reduction enters a broader regulatory moment. The US Senate recently passed stablecoin legislation that may reshape legal frameworks around such assets, while Circle, a peer stablecoin issuer, saw its valuation spike—heightening investor comparisons with WLF. With global crypto markets in flux and the Trump-linked coin ecosystem expanding, the timing of the sale aligns with strategic portfolio recalibration. World Liberty continues to promote itself as the 'official' Trump crypto brand, prompting its legal team to issue cease-and-desist directives against unauthorised token imitations. There is no indication that the stake reduction signals a retreat; rather, it appears to be a calculated liquidity event amid heightened scrutiny and shifting valuations.
Yahoo
3 days ago
- Business
- Yahoo
Mark Cuban thinks the Trump phone could be all about crypto fees
Mark Cuban thinks the Trump smartphone announced Monday may include a crypto wallet linked to Trump coins. He said it may generate fees through $Trump and stablecoin transactions. The phone is the latest moneymaking venture from the family of President Donald Trump. Mark Cuban believes that the real money-making idea behind the Trump Phone might not be the device itself — but what's inside it. After Donald Trump Jr. and Eric Trump unveiled a new Trump-branded smartphone on Monday, the billionaire investor floated a provocative theory on X. He thinks the $499 gold "T1" phone is likely about making crypto cash. "I think the smart game they are probably playing is to put a crypto wallet on the phone that leverages WLF, $Trump, and their stable coins," Cuban posted in response to the product launch. WLF is a reference to crypto firm World Liberty Financial that's connected with the Trumps. "Whatever transactions they can create generates fees for them, and there are so many way to sell things and pre-load whatever they want," he added. The Trump Organization did not immediately respond to a request for comment. Earlier this year, President Donald Trump launched his own meme coin, $Trump, which soared north of $70 billion at its valuation peak in mid-January. A private dinner for top holders of the coin late last month required an average investment of nearly $1.8 million to attend, NBC News reported. According to blockchain analytics firm Chainalysis, the coin's backers, including Trump's family and a network of affiliate companies, have already earned over $350 million in trading fees. Trump Media & Technology Group also filed documents with the Securities and Exchange Commission seeking approval of a new bitcoin and ether ETF on Monday, with the fund aiming to invest 75% of its assets in bitcoin and 25% in ethereum — increasing the family's entrenchment in crypto. Eric Trump told Fox Business on Monday that the T1 would "revolutionize cellphones," while Trump Jr. touted it as a "true value" American-made alternative to mainstream operators at a press conference in New York City. It's unclear who is making the devices. Cuban also said on X: "I just want to know who makes them and where." If Cuban's theory is right, the Trump phone could be a portal to a Trump-branded Web3 ecosystem preloaded with wallets, digital assets, and transaction-generating features. There is no mention on the Trump Mobile website of cryptos. Trump Jr. said the venture would offer roadside assistance and telemedicine services as well as wireless coverage and the smartphone. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
