The appointment comes as Pakistan ramps up efforts to position itself as a crypto-friendly economy.
This week, the government announced plans to allocate 2,000 megawatts of surplus electricity to bitcoin mining as part of a broader plan to support mining and AI data centers.
The initiative, driven by the Pakistan Crypto Council, is aimed at generating revenue, creating high-tech jobs, and attracting foreign investment.
Former Binance CEO Changpeng Zhao joined the council as an advisor in early April after serving a four-month U.S. prison sentence for violating anti-money laundering laws.
But as in the U.S., Pakistan’s crypto embrace has raised concerns. The push follows a sharp decline in foreign direct investment, down 45% in February compared to a year earlier, according to English-language outlet Pakistan Today.
In January, Pakistan hired a U.S. lobbyist to facilitate meetings in Washington. During a visit, the country’s interior minister reportedly appealed for more U.S. investment, according to The Wall Street Journal.
Shortly after, it began to forge ties with Trump-linked crypto project World Liberty Financial.
Bin Saqib became an advisor to the project in April, shortly after a visit to Pakistan by co-founder Zach Witkoff.
During the visit, Witkoff and his co-founders signed an MOU with the ministry that opens up the possibility of World Liberty’s stablecoin being used in the country for trade and remittances. WLF has been contacted for comment.
The Wall Street Journal also reported that Zhao was “helping facilitate some introductions for World Liberty’s foreign travels.” Zhao denied the claims and called the article “another hit piece.”
Edited by Sebastian Sinclair
decrypt.co
