White House cybercrime summit proceeds without single mention of 'crypto' from Trump
Contrary to expectations surrounding a Wednesday roundtable gathering at the White House, neither Donald Trump nor any other US government representative specifically referenced digital currencies as a vehicle for fraudulent activity.
President Donald Trump of the United States convened a roundtable discussion focused on cybercrime at the White House, occurring while he and various administration officials are under investigation by legislators and constituents regarding allegations that they exploited their governmental roles for personal financial gain through digital currency investments.
During his remarks at Wednesday's roundtable gathering, Trump stated that "countless" American citizens suffered losses exceeding $20 billion due to cybercrime throughout 2025 via schemes involving impersonation, ransomware deployments, fraudulent call centers, and additional tactics. The chief executive further revealed that government authorities had successfully frozen $1 billion worth of "cybercurrency linked to international scammers" and successfully thwarted $1.6 billion in potential losses that would have otherwise reached cybercriminals during 2025, achievements resulting from an executive order issued in March.
Significantly, the president as well as Attorney General Todd Blanche refrained from explicitly utilizing the terminology "cryptocurrency" or "digital assets" throughout their discussion of fraudulent schemes impacting numerous American citizens, notwithstanding preliminary reporting that suggested the roundtable would concentrate on combating international cryptocurrency-related fraud. Homeland Security Secretary Markwayne Mullin likewise restricted his language to "digital extortion." The term "Cybercurrency," which Trump employed, represents an outdated expression for what most individuals presently identify as cryptocurrency.
According to the Federal Bureau of Investigation's findings, American citizens experienced $11 billion in losses from fraudulent activities in 2025 that were specifically connected to digital currencies, including schemes perpetrated through cryptocurrency automated teller machines. Cointelegraph submitted a request for commentary to the White House regarding the roundtable discussion but had not received a reply at the time of publication.
The commander-in-chief and members of his family maintain connections to multiple cryptocurrency enterprises that Trump disclosed generated $1.4 billion in revenue for him during 2025, whereas his purported "schemes" allegedly resulted in approximately $4.7 billion in losses for investors, based on findings from a Public Citizen analysis. World Liberty Financial, the cryptocurrency enterprise owned by his family, is additionally facing examination concerning its USD1 stablecoin being utilized to finalize a $2 billion stake in Binance by an organization connected to Sheikh Tahnoon bin Zayed Al Nahyan located in the United Arab Emirates.
Official Trump (TRUMP), Trump's memecoin initiative, is scheduled to conduct another dinner event for token owners on Nov. 22. Previous gatherings arranged by the memecoin project's management have triggered accusations from congressional representatives and advocacy organizations that Trump is monetizing presidential access through "pay-to-play" arrangements.
Italian police arrest 30 people in crypto money laundering scheme
The cybercrime roundtable at the White House occurred after news emerged that law enforcement officials in Italy had detained 30 individuals for utilizing cryptocurrency to cleanse millions of dollars through a financial institution reportedly connected to organized crime syndicates. Bloomberg reported that Italian law enforcement agencies were pursuing an investigation into a criminal operation that transferred proceeds from business fraud schemes, cryptocurrency investment scams, and narcotics distribution into digital currency wallets.