Key Points
- President Trump held a White House cybercrime roundtable Wednesday, reporting over $20 billion lost to cybercrime in 2025.
- Federal authorities froze $1 billion in what Trump called “cybercurrency tied to foreign scammers” and stopped $1.6 billion in potential losses.
- Neither Trump, Attorney General Todd Blanche, nor Homeland Security Secretary Markwayne Mullin mentioned “cryptocurrency” or “digital assets” during the event.
- FBI data shows Americans lost $11 billion to digital asset-related fraud in 2025.
- Authorities in Italy detained 30 individuals connected to a digital currency money laundering operation linked to organized crime.
President Donald Trump convened a cybercrime-focused roundtable at the White House on Wednesday, notably avoiding the term “crypto” throughout the discussion.
Advance reports about the gathering indicated it would address international cryptocurrency fraud operations. However, Trump opted for “cybercurrency,” a dated term that has largely been replaced by cryptocurrency in modern usage.
President Outlines Cybercrime Impact
Trump stated that “countless” American citizens lost over $20 billion to cybercrime throughout 2025. He identified impersonation operations, ransomware incidents, and fraudulent call centers among the primary attack vectors.
According to the president, federal agencies successfully froze $1 billion in “cybercurrency tied to foreign scammers.” He further claimed that $1.6 billion in potential losses were averted in 2025 following an executive order issued in March.
Attorney General Todd Blanche similarly avoided using “cryptocurrency” or “digital assets” terminology while addressing the fraudulent schemes. Homeland Security Secretary Markwayne Mullin’s remarks focused exclusively on “digital extortion.”
Defense Secretary Pete Hegseth attended the gathering alongside the president.
The Federal Bureau of Investigation’s data indicates Americans experienced $11 billion in losses from digital asset-related fraud during 2025. This total encompasses losses occurring through cryptocurrency automated teller machines.
Cointelegraph reached out to the White House seeking additional information about the roundtable but had not received a reply at publication time.
Trump Family Digital Asset Projects Under Fire
The roundtable occurred while Trump and administration officials face increasing scrutiny from legislators and constituents. Detractors claim they are leveraging government positions for personal gain through digital asset investments.
Trump maintains connections to multiple cryptocurrency initiatives. He disclosed that these projects generated $1.4 billion in revenue for him during 2025.
Public Citizen, a watchdog organization, released findings suggesting his purported “schemes” resulted in approximately $4.7 billion in investor losses.
World Liberty Financial, the cryptocurrency enterprise associated with the Trump family, has come under examination. Its USD1 stablecoin facilitated a $2 billion Binance investment by an organization connected to Sheikh Tahnoon bin Zayed Al Nahyan of the United Arab Emirates.
The Official Trump memecoin initiative plans to hold another tokenholders’ dinner on Nov. 22. Previous gatherings organized by the memecoin team prompted legislators and advocacy organizations to allege Trump is monetizing presidential access through “pay-to-play” arrangements.
The White House discussion followed developments in Italy, where law enforcement apprehended 30 suspects in a cryptocurrency money laundering investigation. Authorities allege the organization utilized digital currencies to clean millions through a financial institution with organized crime connections.
Based on Bloomberg reporting, Italian investigators are examining a criminal enterprise that channeled proceeds from corporate fraud, cryptocurrency investment scams, and narcotics trafficking into digital wallets.
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