On Wednesday, October 21, 2026, Reuters reported that President Donald Trump will use a White House event to spotlight his administration’s efforts to combat foreign criminal networks that draw Americans into fraudulent cryptocurrency investments. A White House official told the news agency the appearance is part of a wider program on preventing cybercrime.
Trump and several cabinet members are expected to point to the government’s seizure of fraudulent crypto investment websites, along with measures aimed at curbing online impersonation scams, the official said. Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, Defense Secretary Pete Hegseth and Attorney General Todd Blanche are expected to attend.
The event comes as internet fraud remains a growing problem. According to an FBI report, Americans filed more than one million internet scam complaints last year, a 17 percent increase from 2024. The report also noted that Americans who filed complaints reported the highest losses.
In March, Trump signed an executive order directing the Justice Department to prioritize identifying and prosecuting people who commit crimes online. He later instructed the Department of Homeland Security to collaborate with private companies in monitoring foreign criminal hacking groups.
Reuters also noted the president’s family’s own involvement in the crypto industry. A Reuters investigation found that Trump and his sons have added at least $2.3 billion to the family’s wealth through their primary crypto ventures, while investors drawn to those ventures have lost $2.3 billion.
White House spokeswoman Anna Kelly, responding to the investigation, said in a statement that all actions by the president and his administration are taken in the best interest of the American people.
In October 2025, Trump pardoned Changpeng Zhao, the convicted founder of the Binance cryptocurrency exchange. Zhao stepped down from his position after the company pleaded guilty to failing to maintain an effective anti-money laundering program.
Source: Reuters
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