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Former Binance CEO Changpeng “CZ” Zhao has been appointed as an adviser to Pakistan’s Crypto Council, a newly formed regulatory body tasked with overseeing the country’s embrace of blockchain technology and digital assets. The appointment was confirmed by Pakistan’s finance ministry and reported by Bloomberg on April 7. Zhao will advise the regulatory body on cryptocurrency regulation, infrastructure and adoption, Bloomberg reported.CZ is seen signing documents during his appointment by Pakistan’s Ministry of Finance. Source: Business RecorderZhao is one of the most recognizable names in crypto, having served as CEO of Binance between 2017 and 2023. He resigned as CEO of the exchange in November 2023 after pleading guilty to charges related to violating US money laundering laws. He was later sentenced to four months in prison. For Pakistan, Zhao is a high-profile appointment that could potentially help the country lure foreign investment in an industry that has taken on new strategic importance.In March, the CEO of Pakistan’s Crypto Council, Bilal bin Saqib, told Bloomberg that the country plans to develop a clear regulatory framework for digital assets.“Pakistan is done sitting on the sidelines,” Saqib said. “We want to attract international investment because Pakistan is a low-cost high-growth market with […] a Web3 native workforce ready to build.”Related: Binance co-founder Changpeng Zhao to advise Kyrgyzstan on blockchain techCrypto in Pakistan: Adoption and pain-pointsPakistan has long been considered a potential hub for crypto adoption due to its growing population, large diaspora and thriving black market for foreign exchange trades. The value of cash sent to Pakistan through formal remittance channels surged at the end of last year amid a countrywide crackdown on black market dollar trades.“This increase might be because remittances that had previously been sent using the black market are now being sent via official channels,” John Ashbourne, an economist at Fitch Solutions, told Bloomberg. Pakistan ranked highly in Chainalysis’ 2024 crypto adoption index, largely due to strong retail adoption and transactions at centralized services.In 2024, Pakistan ranked ninth among Central and Southern Asia and Oceania (CSAO) countries. Source: ChainalysisStablecoins have emerged as one of crypto’s most prominent use cases in regions with high demand for US dollars due to currency depreciation.Although data on stablecoin usage in Pakistan is slim, a 2023 KuCoin survey revealed that 33% of local crypto investors use digital assets to hedge against the rupee’s devaluation. A more recent survey conducted by Bitget found that 46% of respondents in South Asia — a region that includes India, Pakistan, Bangladesh and others — use digital assets for speed and accessibility of transactions. Magazine: How crypto laws are changing across the world in 2025

The Mantra blockchain network has launched a $108,888,888 ecosystem fund aimed at accelerating the growth of startups focused on real-world asset (RWA) tokenization and decentralized finance (DeFi), amid rising demand for stable, asset-backed digital products.Mantra, a layer-1 (L1) blockchain built for tokenized RWAs, launched the Mantra Ecosystem Fund (MEF) to accelerate the growth and adoption of projects and startups building on its network, according to an April 7 announcement shared with Cointelegraph.Mantra said it will deploy the capital over the next four years among “high-potential blockchain projects” worldwide, with investment opportunities sourced through Mantra’s network of partners. The fund’s backers include a wide range of institutional partners including Laser Digital, Shorooq, Brevan Howard Digital, Valor Capital, Three Point Capital and Amber Group.Related: 0G Foundation launches $88M fund for AI-powered DeFi agentsMantra CEO John Patrick Mullin said the fund will operate an “open-arms policy, welcoming projects at any developmental stage globally with a particular focus on RWA’s and DeFi.” Mullin told Cointelegraph:“The MEF thesis is to invest in top-tier teams building RWA and DeFi applications, as well as complimentary infrastructure, that will both directly and indirectly support the broader ecosystem.”Mantra aims to become the underlying infrastructure layer for tokenized asset issues worldwide, Mullin said.Source: MantraThe launch of the fund comes a month after Mantra became the first DeFi platform to obtain a virtual asset service provider (VASP) license under Dubai’s Virtual Assets Regulatory Authority (VARA).Related: Stablecoin rules needed in US before crypto tax reform, experts sayInvestor demand grows for RWAsThe timing of the fund’s launch aligns with growing institutional interest in RWAs, which are seen by some as a hedge against crypto market volatility and broader economic uncertainty.Global fears and uncertainty around US President Donald Trump’s tariffs have impacted investor sentiment across markets.Despite a broader market slump triggered by US tariff-related concerns, the value of tokenized RWAs recently surged to a record high. According to data from RWA.xyz, total RWA market capitalization reached more than $19.6 billion as of early April, up from $17 billion in early February.RWA global market dashboard. Source: RWA.xyzIndustry watchers previously told Cointelegraph that Bitcoin’s lack of upside momentum may drive RWAs to a $50 billion all-time high before the end of 2025.The world’s largest asset manager, BlackRock, has also signaled support for the RWA space.BlackRock BUIDL capital deployed by chain. Source: Token Terminal, Leon WaidmannBlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) saw an over three-fold increase in the three weeks leading up to March 26, from $615 million to $1.87 billion.Magazine: Financial nihilism in crypto is over — It’s time to dream big again

US federal agencies are expected to disclose their cryptocurrency holdings to the Department of the Treasury by April 7, following an executive order signed by President Donald Trump earlier this year.Citing an unnamed White House official, journalist Eleanor Terrett reported that the deadline for federal agencies to report their crypto holdings to Treasury Secretary Scott Bessent is April 7. However, the disclosures will remain confidential for now. “Unclear as of now if and when the findings could be made public,” Terrett wrote.Source: Eleanor TerretCrypto disclosure follows Bitcoin Reserve establishmentThe reporting requirement follows an executive order signed on March 7 that directed the creation of a Strategic Bitcoin Reserve and a broader Digital Asset Stockpile. The Bitcoin (BTC) reserve will be seeded with BTC forfeited to federal agencies through civil or criminal asset seizures.White House AI and crypto czar David Sacks described the reserve as a “digital Fort Knox for the cryptocurrency,” saying that the US will not sell any BTC held in the reserve. “It will be kept as a store of value,” Sacks added. Sacks previously lamented the US government’s selling of 195,000 BTC for $366 million. The official said the BTC sold by the US government could’ve gone for billions if it had only held on to the assets. The reserve will initially be seeded by the BTC kept by the Treasury, while the other federal agencies would “evaluate their legal authority” to transfer their BTC into the reserve. Regarding the digital asset stockpile, Sacks said it would promote “responsible stewardship” of the government’s crypto assets under the Treasury. This includes potential sales from the stockpiles. On March 2, Trump said that the crypto reserve would include assets like XRP (XRP), Solana (SOL) and Cardano (ADA). The US President later added Ether (ETH) and Bitcoin (BTC) to his crypto reserves list. Related: 10-year Treasury yield falls to 4% as DXY softens — Is it time to buy the Bitcoin price dip?Crypto plunges as Trump tariffs shock global stocksWhile Trump’s election may have positively impacted crypto markets, the US president’s next move resulted in a market crash. On April 5, the Trump administration hit all countries with a 10% tariff. Some countries were given higher rates, including China at 34% and Japan at 24%. The European Union was also hit with a 20% tariff.  Following Trump’s move, the overall crypto market capitalization declined by over 8%, slipping to $2.5 trillion. Magazine: Financial nihilism in crypto is over — It’s time to dream big again