Key Takeaways
- • The Trump administration will highlight its crackdown on overseas criminal networks running cryptocurrency investment scams targeting Americans, per a White House official who spoke to Reuters.
- • The FBI recorded more than one million internet fraud complaints from Americans last year, a 17% increase over 2024, with reported victim losses reaching a record high.
- • A Reuters investigation found Trump and his sons added at least US$2.3 billion to the family's wealth through core cryptocurrency businesses, while investors they encouraged suffered losses totalling US$2.3 billion.
- • Trump pardoned Changpeng Zhao, Binance's founder, in October 2025 after Binance pleaded guilty to failing to maintain an effective anti-money laundering programme.
Summary
President Donald Trump is scheduled to highlight his administration's efforts to combat overseas criminal networks that defraud Americans through cryptocurrency investment scams, according to Reuters, which cited a White House official. The agenda will form part of an event focused on preventing cybercrime. Trump and several Cabinet members are expected to outline government efforts to seize websites used for fraudulent crypto investments and to combat online scams that impersonate individuals or organisations to deceive victims.
Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, Defence Secretary Pete Hegseth and Attorney General Todd Blanche are scheduled to attend, according to an official familiar with the arrangements. An FBI report recorded more than one million complaints from Americans about internet fraud last year, up 17% from 2024, and reported victim losses reached a record high.
The announcement comes against the backdrop of the Trump family's own involvement in the cryptocurrency sector. A Reuters investigation found that Trump and his sons had added at least US$2.3 billion to the family's wealth through their core crypto businesses, while investors they had encouraged to invest suffered losses totalling US$2.3 billion. White House spokesperson Anna Kelly told Reuters that "All actions taken by President Trump and his administration are aimed at serving the interests of the American people."
The article also recalls that in October 2025 Trump pardoned Changpeng Zhao, founder of cryptocurrency exchange Binance, who had been convicted of an offence. Zhao stepped down after Binance pleaded guilty to failing to maintain an effective anti-money laundering programme. In an executive order issued in March, Trump instructed the Justice Department to prioritise identifying and prosecuting online fraudsters, and he subsequently directed the Department of Homeland Security to work with private companies to monitor criminal hacking groups operating from overseas.
Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, Defence Secretary Pete Hegseth and Attorney General Todd Blanche are scheduled to attend, according to an official familiar with the arrangements. An FBI report recorded more than one million complaints from Americans about internet fraud last year, up 17% from 2024, and reported victim losses reached a record high.
The announcement comes against the backdrop of the Trump family's own involvement in the cryptocurrency sector. A Reuters investigation found that Trump and his sons had added at least US$2.3 billion to the family's wealth through their core crypto businesses, while investors they had encouraged to invest suffered losses totalling US$2.3 billion. White House spokesperson Anna Kelly told Reuters that "All actions taken by President Trump and his administration are aimed at serving the interests of the American people."
The article also recalls that in October 2025 Trump pardoned Changpeng Zhao, founder of cryptocurrency exchange Binance, who had been convicted of an offence. Zhao stepped down after Binance pleaded guilty to failing to maintain an effective anti-money laundering programme. In an executive order issued in March, Trump instructed the Justice Department to prioritise identifying and prosecuting online fraudsters, and he subsequently directed the Department of Homeland Security to work with private companies to monitor criminal hacking groups operating from overseas.
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