US President Donald Trump focused on the scale of cybercrime and the money recovered from foreign scammers during a White House roundtable, but did not use the terms “cryptocurrency” or “digital assets” when discussing scams.
Trump said countless Americans lost more than $20 billion to cybercrime in 2025. He cited impersonation schemes, ransomware attacks, scam centers and other forms of criminal activity. He also said federal authorities had frozen $1 billion in “cybercurrency” linked to foreign scammers and had prevented a further $1.6 billion from reaching cybercriminals after a March executive order.
The event brought Trump together with senior officials including Defense Secretary Pete Hegseth and Attorney General Todd Blanche. Homeland Security Secretary Markwayne Mullin also took part in the administration’s discussion of cybercrime.
A notable choice of language
The terminology used at the event drew attention because reports ahead of the meeting had indicated that foreign crypto scams would be a central focus. Trump referred to “cybercurrency,” while Mullin described the threat as “digital extortion.” Neither Trump nor Blanche explicitly used “cryptocurrency” or “digital assets” in their remarks about the scams.
“Cybercurrency” is an older expression for what is now more commonly called cryptocurrency. The distinction was notable because digital assets are increasingly involved in fraud, money laundering and extortion cases, while also being the subject of major US policy and political debates.
The Federal Bureau of Investigation reported that Americans lost $11 billion in 2025 in scams specifically connected with digital assets, including schemes involving crypto ATMs. That figure is part of the wider cybercrime losses cited by Trump. Cointelegraph reported that it contacted the White House for comment but had not received an immediate response.
The roundtable also took place as Trump and members of his administration faced scrutiny from lawmakers and voters over accusations that they used public positions to benefit financially from digital-asset ventures. Those accusations are separate from the figures Trump presented about cybercrime enforcement.
Trump family crypto ventures under scrutiny
Trump and his family are linked to several crypto-related projects. According to a Public Citizen report cited in the source material, Trump reported that these ventures generated $1.4 billion for him in 2025. The same report estimated that alleged schemes associated with the projects cost investors about $4.7 billion.
One company attracting attention is World Liberty Financial, a crypto business connected to Trump’s family. Its USD1 stablecoin was reportedly used to settle a $2 billion investment in Binance by an entity linked to Sheikh Tahnoon bin Zayed Al Nahyan of the United Arab Emirates. A stablecoin is a digital token designed to maintain a relatively stable value, typically by reference to an asset such as the US dollar, although the source material does not provide further details about USD1’s design or reserves.
Trump’s Official Trump, or TRUMP, memecoin is also scheduled to host another dinner for tokenholders on Nov. 22. Earlier events organised by the project’s team led lawmakers and interest groups to accuse Trump of operating “pay-to-play” schemes and selling access to the presidency. Those claims were presented as accusations and were not established as findings in the source material.
Italian arrests add to crypto-crime backdrop
The White House meeting followed reports from Italy that authorities had arrested 30 people in an alleged cryptocurrency money-laundering operation. According to Bloomberg, Italian police were investigating a criminal network that moved proceeds from corporate fraud, crypto investment scams and drug trafficking into digital wallets.
The case illustrates the range of criminal activity now associated with digital assets: cryptocurrencies can be used in investment fraud, transfers between criminal groups and efforts to conceal or move illicit proceeds. The source material said the money was allegedly laundered through a bank tied to the mafia, but did not identify the institution or provide a value for the funds involved.
Current market picture
Moneyiar market data at the stated times showed declines in the TRUMP token and RedStone, while Ren posted a sharp increase:
- Official Trump (TRUMP) was trading at $1.729493453, down 5.81% over 24 hours and 7.84% over seven days, as of Oct. 22, 2026, at 23:18 +03:30.
- RedStone (RED) was priced at $0.1397353222, down 5.99% over 24 hours and 10.25% over seven days, as of Oct. 22, 2026, at 23:19 +03:30.
- Ren (REN) stood at $0.8044417073, up 29,270.65% over 24 hours and 28,690.8% over seven days, as of Oct. 20, 2026, at 07:54 +03:30.
These market readings are separate from the White House statements and do not establish a connection between the token prices and the roundtable.
