Donald Trump is scheduled to present new measures against international crypto fraud networks at a White House event on Wednesday, according to a report by Reuters citing a government official. The announcement arrives as separate Reuters reporting raises questions about the Trump family's own crypto business dealings, placing the enforcement push alongside fresh conflict-of-interest scrutiny.
The measures expected to be unveiled include the seizure of fraudulent crypto websites and efforts to combat online identity theft, Reuters reported. The event is set to bring together FBI Director Kash Patel, Secretary of Homeland Security Markwayne Mullin, Secretary of Defense Pete Hegseth and Attorney General Todd Blanche alongside the president.
The timing reflects a sharp rise in reported internet crime. The FBI received more than one million complaints about internet crime last year, a 17 percent increase compared with 2024, according to figures cited in the report. In March, Trump directed the Department of Justice to prioritise the prosecution of online fraudsters. Following that directive, the Department of Homeland Security was also tasked with working alongside private companies to counter foreign hacking groups.
Family crypto gains under the microscope
The enforcement announcement comes as Reuters reporting has detailed how Trump and his sons expanded the family's fortune through crypto ventures, adding at least 2.3 billion US dollars to their wealth. The same reporting found that investors recruited by Trump and his sons suffered losses of a broadly similar scale, also calculated at roughly 2.3 billion US dollars, according to Reuters' own figures.
The juxtaposition of a presidential crackdown on crypto fraud with reporting on the Trump family's own crypto gains has sharpened questions about potential conflicts of interest at the highest level of the US government, a theme that resonates well beyond Washington as European regulators continue to watch how enforcement priorities and political proximity to the industry intersect in the world's largest crypto market.
White House spokesperson Anna Kelly defended the administration's conduct when asked about the matter.
