Latest news with #ZacharyFolkman
AU Financial Review
08-05-2025
- Business
- AU Financial Review
Two sides of the Trump coin: Crypto dealer and policymaker
The pitch from 'ZMoney' arrived on the encrypted messaging app Signal just days before Donald Trump's presidential inauguration. 'ZMoney' was Zachary Folkman, an entrepreneur who once ran a company called Date Hotter Girls and was now representing World Liberty Financial, the cryptocurrency firm that Trump and his sons had recently unveiled. Folkman was writing to a crypto start-up in the Cayman Islands, offering a 'partnership' in which the firms would buy each other's digital coins, a deal that would bolster the start-up's public profile.
NZ Herald
30-04-2025
- Business
- NZ Herald
How Trump's crypto empire is reshaping presidential norms
The pitch from ' ZMoney ' arrived on the encrypted messaging app Signal just days before Donald Trump's presidential inauguration. 'ZMoney' was Zachary Folkman, an entrepreneur who once ran a company called Date Hotter Girls and was now representing World Liberty Financial, the cryptocurrency firm that Trump and his sons had recently unveiled. Folkman was writing to a crypto startup in the Cayman Islands, offering a 'partnership' in which the firms would buy each
Economic Times
30-04-2025
- Business
- Economic Times
What is World Liberty Financial, the Trump-linked crypto firm partnering with Pakistan?
World Liberty Financial, a US-based crypto firm backed by the Trump family, has stirred global attention after signing a deal to promote blockchain adoption in Pakistan—just days after a deadly terrorist attack in Pahalgam raised tensions between the two neighbours. ADVERTISEMENT The company, which is 60% owned by a Trump family entity, signed a letter of intent with the Pakistan Crypto Council during a recent visit to Islamabad. The deal aims to boost blockchain use, stablecoin adoption and decentralised finance (DeFi) in the country. Executives from World Liberty Financial, including Zachary Folkman, Chase Herro and Zachary Witkoff, met top Pakistani leaders, including Prime Minister Shehbaz Sharif and army chief General Asim Munir, according to Dawn newspaper. Finance Minister Muhammad Aurangzeb, the chairman of the Securities and Exchange Commission, and the State Bank governor also attended the meeting. ADVERTISEMENT The agreement came just five days after a terrorist attack in Pahalgam killed 26 people. India has said two of the attackers were from Pakistan, a claim Pakistan denies. The timing of the deal has raised questions in India, especially around data safety and national Indian policy adviser warned that offshore crypto exchanges, if set up in Pakistan, could attract Indian traders trying to avoid taxes. 'The larger worry is Indians' financial data falling into Pakistani hands,' the person Liberty Financial is largely controlled by the Trump family. Donald Trump is listed as the firm's 'Chief Crypto Advocate,' while his sons Eric and Donald Jr are named 'Web3 Ambassadors.' His youngest son, Barron Trump, is called the 'DeFi Visionary.' ADVERTISEMENT The company raised $300 million in October 2024 by selling its WLFI tokens. It also plans to launch a stablecoin, USD1, backed by US Treasury assets. According to The New York Times, the firm approached several crypto startups for currency swap deals, offering them its tokens in exchange for smaller amounts of their own. These deals were kept secret and often came with high fees. ADVERTISEMENT Also Read: Bitcoin is digital equivalent of gold, showing signs of decoupling from Nasdaq: Jefferies' Chris WoodThe NYT report said the Trump family's deep involvement in the firm blurs the lines between business and politics. It pointed to multiple examples where the Trump-backed platform seemed to benefit from decisions made in Washington. ADVERTISEMENT Chinese crypto investor Justin Sun, who invested $75 million in WLFI, later saw his legal case paused by the SEC. Other controversial investors include Ethena's Arthur Hayes and Binance founder Changpeng Zhao, both of whom have faced legal firm also received a $25 million investment from Dubai's DWF Labs to support its stablecoin. In another example, a New York crypto firm that invested in World Liberty later donated to Trump's inauguration and sponsored a Trump-linked crypto event. Also Read: Is the memecoin mania affecting the credibility and future of crypto? Pakistan Crypto Council, with support from Trump and Binance's Zhao, aims to turn Pakistan into South Asia's crypto hub. In 2024, the country ranked 9th globally in crypto adoption with around 25 million users and $300 billion in annual CEO Bilal Bin Saqib recently criticised India's 30% tax on crypto trading, saying Pakistan would follow a more open the partnership could help Pakistan's crypto ambitions, the close link between the Trump family, business interests, and foreign policy is drawing scrutiny in both Washington and New Delhi. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
30-04-2025
- Business
- Time of India
What is World Liberty Financial, the Trump-linked crypto firm partnering with Pakistan?
World Liberty Financial, a US-based crypto firm backed by the Trump family, has stirred global attention after signing a deal to promote blockchain adoption in Pakistan —just days after a deadly terrorist attack in Pahalgam raised tensions between the two neighbours. Trump-linked crypto firm steps into Pakistan The company, which is 60% owned by a Trump family entity, signed a letter of intent with the Pakistan Crypto Council during a recent visit to Islamabad. The deal aims to boost blockchain use, stablecoin adoption and decentralised finance (DeFi) in the country. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Methods of Metallurgical Testing. (Find Out) Metallurgical testing Read More Undo Executives from World Liberty Financial, including Zachary Folkman, Chase Herro and Zachary Witkoff, met top Pakistani leaders, including Prime Minister Shehbaz Sharif and army chief General Asim Munir, according to Dawn newspaper. Finance Minister Muhammad Aurangzeb, the chairman of the Securities and Exchange Commission, and the State Bank governor also attended the meeting. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Crypto Tracker TOP COIN SETS AI Tracker 8.94% Buy Web3 Tracker 6.63% Buy BTC 50 :: ETH 50 0.61% Buy NFT & Metaverse Tracker -1.52% Buy DeFi Tracker -4.01% Buy TOP COINS (₹) Bitcoin 8,059,390 ( -0.21% ) Buy Tether 85 ( -0.39% ) Buy Ethereum 153,334 ( -1.04% ) Buy BNB 51,332 ( -1.37% ) Buy XRP 191 ( -1.91% ) Buy Why this deal is raising concerns The agreement came just five days after a terrorist attack in Pahalgam killed 26 people. India has said two of the attackers were from Pakistan, a claim Pakistan denies. The timing of the deal has raised questions in India, especially around data safety and national security . Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » An Indian policy adviser warned that offshore crypto exchanges, if set up in Pakistan, could attract Indian traders trying to avoid taxes. 'The larger worry is Indians' financial data falling into Pakistani hands,' the person said. Live Events Trump family's role in the firm World Liberty Financial is largely controlled by the Trump family. Donald Trump is listed as the firm's 'Chief Crypto Advocate,' while his sons Eric and Donald Jr are named 'Web3 Ambassadors.' His youngest son, Barron Trump, is called the 'DeFi Visionary.' The company raised $300 million in October 2024 by selling its WLFI tokens. It also plans to launch a stablecoin, USD1, backed by US Treasury assets. According to The New York Times, the firm approached several crypto startups for currency swap deals, offering them its tokens in exchange for smaller amounts of their own. These deals were kept secret and often came with high fees. Also Read: Bitcoin is digital equivalent of gold, showing signs of decoupling from Nasdaq: Jefferies' Chris Wood More ties raise ethical questions The NYT report said the Trump family's deep involvement in the firm blurs the lines between business and politics. It pointed to multiple examples where the Trump-backed platform seemed to benefit from decisions made in Washington. Chinese crypto investor Justin Sun, who invested $75 million in WLFI, later saw his legal case paused by the SEC. Other controversial investors include Ethena's Arthur Hayes and Binance founder Changpeng Zhao, both of whom have faced legal troubles. The firm also received a $25 million investment from Dubai's DWF Labs to support its stablecoin. In another example, a New York crypto firm that invested in World Liberty later donated to Trump's inauguration and sponsored a Trump-linked crypto event. Also Read: Is the memecoin mania affecting the credibility and future of crypto? Pakistan eyes crypto growth Pakistan Crypto Council, with support from Trump and Binance's Zhao, aims to turn Pakistan into South Asia's crypto hub. In 2024, the country ranked 9th globally in crypto adoption with around 25 million users and $300 billion in annual transactions. Council CEO Bilal Bin Saqib recently criticised India's 30% tax on crypto trading, saying Pakistan would follow a more open approach. While the partnership could help Pakistan's crypto ambitions, the close link between the Trump family, business interests, and foreign policy is drawing scrutiny in both Washington and New Delhi.
Business Recorder
27-04-2025
- Business
- Business Recorder
Trump-backed DeFi platform inks deal with Pakistan Crypto Council to boost blockchain innovation
ISLAMABAD: World Liberty Financial (WLF), the decentralised finance (DeFi) platform backed by the US President Donald Trump, on Saturday has signed a landmark Letter of Intent (LoI) with the Pakistan Crypto Council (PCC) to accelerate blockchain innovation, stable-coin adoption, and decentralised finance (DeFi) integration across Pakistan. The WLF delegation including Zachary Folkman, Zachary Witkoff (son of Steve Witkoff who's the United States Special Envoy to the Middle East), and Chase Herro met with Pakistan's leadership including the Prime Minister, Chief of Army Staff, Deputy Prime Minister, Minister of Information and Minister of Defence to formalise cooperation, marking a major step toward positioning Pakistan as a global leader in the digital finance revolution. Pakistan's proactive approach demonstrates its commitment to embracing the next wave of financial innovation. The government has signalled plans to very soon announce comprehensive crypto legalisation policies, further strengthening Pakistan's position as one of the fastest-growing crypto markets in the world. Binance founder CZ appointed strategic advisor to PCC The Letter of Intent was signed during the meeting of World Liberty Financial and Pakistan Crypto Council. The meeting included the Finance Minister of Pakistan, CEO of the Council, Governor State Bank of Pakistan, Chairman SECP, and Federal Secretary for IT. The scope of cooperation between Pakistan Crypto Council and World Liberty Financial outlines collaboration in key areas including: Launching regulatory sandboxes for blockchain financial product testing, facilitating the responsible growth of DeFi protocols, exploring tokenisation of real-world assets like real estate and commodities, expanding stable-coin applications for remittances and trade, and providing strategic advisory on blockchain infrastructure and global regulatory trends Pakistan offers one of the world's most promising digital economies, with over 64 percent of its population under the age of 30. The country ranks among the top in global crypto adoption, with an estimated $300 billion in annual crypto transactions and 25 million active crypto users. With rising mobile penetration, a vibrant freelance economy and strong government interest in blockchain, Pakistan's youth are uniquely positioned to drive the next wave of Web3 innovation. 'Pakistan's youth and technology sector are our greatest assets. Through partnerships like this, we are opening new doors for investment, innovation, and global leadership in the blockchain economy,' Finance Minister Muhammad Aurangzeb stated. CEO of the Pakistan Crypto Council Bilal Bin Saqib added: 'Our collaboration with World Liberty Financial is more than just a partnership it's a strategic move to empower our young population and integrate Pakistan into the future of global finance.' World Liberty Financial leadership praised Pakistan's dynamism, stating, 'Pakistan's energy, vision, and talent make it one of the most exciting places in the world to build the future of decentralized finance.' Copyright Business Recorder, 2025
