Key facts
- Trump to highlight crackdown on foreign crypto scams on Wednesday.
- Trump family crypto ventures have generated $2.3 billion for the family while investors lost $2.3 billion.
- Americans filed over 1 million internet scam complaints in the past year, a 17% increase.
- Trump pardoned Binance founder Changpeng Zhao in October 2025.
- Trump issued an executive order in March to prioritize prosecuting online scammers.
President Donald Trump is set to highlight his administration's efforts to combat foreign criminal networks engaged in fraudulent cryptocurrency investments on Wednesday, according to a White House official. The announcement comes as part of a broader event focused on cyber crime prevention. The administration plans to showcase its seizure of fraudulent crypto investment websites and its initiatives to thwart online impersonation scams. The event is expected to be attended by Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, Defense Secretary Pete Hegseth, and Attorney General Todd Blanche. Americans reported over a million complaints about internet scams last year, a 17% increase from 2024, with the highest reported losses. A Reuters investigation revealed that the Trump family has amassed at least $2.3 billion from their crypto ventures, while investors have incurred losses totaling $2.3 billion. White House spokeswoman Anna Kelly stated that all presidential actions are in the best interest of the American people. In October 2025, Trump pardoned Changpeng Zhao, the founder of Binance, after the exchange pleaded guilty to anti-money laundering violations. Earlier, in March, Trump issued an executive order directing the Justice Department to prioritize prosecuting online scammers and instructed Homeland Security to collaborate with private companies to monitor foreign criminal hacking groups.