TLDR
- Trump hosted a White House cybercrime roundtable on Wednesday and said Americans lost more than $20 billion to cybercrime in 2025.
- He said officials froze $1 billion in “cybercurrency tied to foreign scammers” and prevented $1.6 billion in losses.
- Trump, Attorney General Todd Blanche and Homeland Security Secretary Markwayne Mullin did not use the words “cryptocurrency” or “digital assets.”
- The FBI has reported Americans lost $11 billion to crypto-related scams in 2025.
- Italian police arrested 30 people in a crypto money laundering case tied to an alleged mafia-linked bank.
US President Donald Trump hosted a roundtable on cybercrime at the White House on Wednesday. During the event, he did not use the word “crypto” once.
Reports before the meeting said the event would focus on a crackdown on foreign crypto scams. Instead, Trump used the term “cybercurrency,” an older word for what most people now call cryptocurrency.
Trump Details Cybercrime Losses
Trump said “countless” Americans lost more than $20 billion to cybercrime in 2025. He listed impersonation schemes, ransomware attacks and scam centers as some of the methods used.
The president said federal officials froze $1 billion in “cybercurrency tied to foreign scammers.” He added that $1.6 billion in losses were prevented in 2025 after a March executive order.
Attorney General Todd Blanche also did not use the terms “cryptocurrency” or “digital assets” when discussing the scams. Homeland Security Secretary Markwayne Mullin referred only to “digital extortion.”
Secretary of Defense Pete Hegseth also appeared at the event alongside the president.
The Federal Bureau of Investigation has reported that Americans lost $11 billion to scams tied to digital assets in 2025. That figure includes losses through crypto ATMs.
Cointelegraph contacted the White House for comment on the roundtable but did not receive an immediate response.
Scrutiny Over Trump Family Crypto Ventures
The roundtable took place as Trump and members of his administration face questions from lawmakers and voters. Critics accuse them of using their positions to profit from digital assets.
Trump and his family are tied to several crypto ventures. Trump reported that these ventures earned him $1.4 billion in 2025.
A report from the group Public Citizen said his alleged “schemes” cost investors about $4.7 billion.
World Liberty Financial, the Trump family’s crypto company, is also facing scrutiny. Its USD1 stablecoin was used to settle a $2 billion investment in Binance by an entity tied to Sheikh Tahnoon bin Zayed Al Nahyan of the United Arab Emirates.
Trump’s memecoin project, Official Trump, is set to host another dinner for tokenholders on Nov. 22. Past events held by the team behind the memecoin led lawmakers and interest groups to accuse Trump of selling access to the presidency through “pay-to-play” schemes.
The White House roundtable followed news from Italy, where police arrested 30 people over a crypto money laundering scheme. The group allegedly used crypto to launder millions of dollars through a bank tied to the mafia.
According to Bloomberg, Italian police were investigating a criminal network that moved money from corporate fraud, crypto investment scams and drug trafficking into digital wallets.
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