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In a key move in the development of Pakistan's financial technology sector, the Pakistan Crypto Council (PCC) and World Liberty Financial (WLF) officially signed a series of agreements aimed at promoting investment and innovation in the crypto industry. The signing ceremony held on Saturday was attended by Minister for Information Ata Tarar, CEO of Pakistan Crypto Council Bilal Bin Saeed, the WLF co-chairman Zack Vetkoff and other officials. According to a press statement by the finance ministry, the US delegation comprised Zachary Folkman, Chase Herro and Zachary Witkoff, the son of Trump's special envoy Steve Witkoff. (The) WLF ... has signed a landmark Letter of Intent with the PCC to accelerate blockchain innovation, stablecoin adoption and decentralised finance integration across Pakistan, it stated. The delegation also met the prime minister, chief of army staff, deputy prime minister, information and defence ministers to formalise cooperation, marking a major step toward ...
U.S. prosecutors charged Sam Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, with a host of financial crimes and campaign finance violations on Tuesday, alleging he played a central role in the rapid collapse of FTX and hid its problems from the public and investors. The indictment says that, beginning in 2019, Bankman-Fried intentionally devised a scheme and artifice to defraud FTX's customers and investors, diverting their money to pay expenses and debts at his crypto hedge fund, Alameda Research, and to make lavish real estate purchases and large political donations. Bankman-Fried was arrested Monday by Bahamian authorities at the request of the U.S. government, which charged him with eight criminal violations, ranging from wire fraud to money laundering to conspiracy to commit fraud. He was also charged with making illegal campaign contributions, a notable charge as Bankman-Fried was one of the largest political donors this year. The indictment is on to