New Delhi: World Liberty Financial (WLF), a crypto firm closely tied to the current US President Donald Trump and his family, has become a central node in a powerful financial and political network linking the United States, the Gulf region, and Pakistan.
Islamabad’s strategic engagement with WLF—formalized through an April 2025 partnership with Pakistan’s Crypto Council—has effectively hooked Trump’s family crypto enterprise into Pakistan’s burgeoning digital finance sector.
This partnership aligns with Pakistan’s push to modernize its economy via cryptocurrency regulation and attracts Gulf-based funding that strengthens WLF’s foothold.
Through these intertwined business and political ties, Islamabad has created a direct channel to Trump’s commercial and political interests, reshaping US-Pakistan relations in ways deeply influenced by private capital flows and Gulf intermediaries.
A crucial element in this tri-regional dynamics is the prominent role of Gulf-based financial firms, whose investments and operational support have been instrumental to WLF’s growth.
Aqua Labs Investment LLC, operating out of Dubai’s Business Bay under an investment management licence, publicly announced a $100 million purchase of WLF governance tokens in June 2025.
However, investigative observations have flagged that Aqua1 Foundation—the fund backing Aqua Labs—lacks fully transparent corporate filings within UAE business registries, raising questions about its formal registration status.
Media reports identify Dave Lee as Aqua Labs’s CEO, though limited information is available about the company’s ownership beyond these statements.
In Abu Dhabi, MGX Holdings Ltd., incorporated within the Abu Dhabi Global Market (ADGM) and regulated by its Financial Services Regulatory Authority, utilized WLF’s USD1 stablecoin to settle a $2 billion transaction with Binance earlier in 2025.
MGX Holdings is widely reported to be chaired by Sheikh Tahnoun bin Zayed Al Nahyan, the UAE’s National Security Advisor and a senior member of the Abu Dhabi royal family, with Khaldoon Al Mubarak serving as vice chair and Ahmed Yahia Al Issi as CEO.
MGX is linked to Abu Dhabi’s sovereign wealth fund Mubadala and technology group G42, illustrating deep state involvement.
While WLF maintains a regional presence reportedly through WLF Middle East DMCC in Dubai, this specific entity lacks confirmation in official corporate registries and is noted primarily in WLF’s promotional materials.
The partnership between WLF and the Pakistan Crypto Council was formally signed on 27 April 2025, in an event attended by Prime Minister Shehbaz Sharif, Chief of Army Staff General Asim Munir, the State Bank Governor, and SECP Chairman.
This signing followed the launch of the Crypto Council itself in March 2025, indicating that Pakistan’s domestic crypto regulatory initiatives preceded the public announcement of Gulf investments by Aqua Labs and MGX Holdings.
These investments, while substantial, served to fortify WLF’s position rather than initiate the Pakistani partnership.
In response to this collaborative momentum, Pakistan issued the Virtual Assets Ordinance, 2025, under Article 89 of its Constitution.
This ordinance establishes a regulatory framework for virtual asset activities, effective for up to 120 days unless ratified by Parliament, and aligns Pakistan’s crypto market regulation with international transparency and anti-money laundering standards.
SEC filings confirm that the Trump family holds substantial control over WLF through DT Marks DeFi LLC, commanding a sizable equity stake and approximately 22 billion governance tokens.
This ownership arrangement channels significant financial benefits to the family from token sales and platform revenues.
Together, the documented Gulf investments—$100 million from Aqua Labs and a $2 billion stablecoin transaction facilitated by MGX—represent a large but measured infusion of capital into WLF.
These series of transactions, much of it highly opaque in nature, have not gone unnoticed. Senators Warren and Merkley have flagged the MGX-Binance-WLF deal as a possible violation of the US Constitution’s Emoluments Clause.
Additionally, Sheikh Tahnoun’s role spans significant national security concerns, as UAE approvals have enabled the transfer of advanced computer chips despite risks of diversion to China, linking geopolitics with economic interests.
Reports also suggest that investigations involving WLF have been affected by large payments to the company, combined with President Trump’s pardon for an investor affiliated with WLF, further intensifying scrutiny.
These developments show how Gulf intermediaries, private capital, and political connections are converging to reshape US-Pakistan relations and redefine the interface of technology, finance, and international diplomacy around the sitting US President’s family enterprises.
