U.S. President Donald Trump is expected to highlight his administration’s efforts to combat foreign criminal networks targeting Americans with fraudulent cryptocurrency investments at a White House event on Wednesday, a White House official told Reuters.
The event will focus on cybercrime prevention, including the seizure of fraudulent cryptocurrency investment websites and efforts to tackle online impersonation scams, the official said.
FBI Director Kash Patel, Defense Secretary Pete Hegseth and Attorney General Todd Blanche are among the senior officials expected to attend, along with White House Chief of Staff Susie Wiles.
Americans filed more than one million complaints about internet scams with the FBI in 2025, a 17 per cent increase on 2024, according to an agency report.
The event comes as Trump’s family has expanded its involvement in the cryptocurrency industry.
A Reuters investigation found that Trump and his sons had added at least $2.3 billion to the family fortune through their main cryptocurrency ventures, while investors they had attracted had lost $2.3 billion.
Responding to the investigation, White House spokeswoman Anna Kelly told Reuters: “All actions by President Trump and his administration are taken in the best interest of the American people.”
In October 2025, Trump pardoned Changpeng Zhao, the founder of cryptocurrency exchange Binance, who had been convicted after the company pleaded guilty to failing to maintain an effective anti-money laundering programme.
In March this year, Trump signed an executive order directing the Justice Department to prioritise identifying and prosecuting those responsible for online scams. He later directed the Department of Homeland Security to work with private companies to monitor foreign criminal hacking groups.
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