Key takeaways

  • President Donald Trump is expected to use a White House event on Wednesday to highlight efforts against foreign criminal networks that lure Americans into fraudulent crypto investments, according to a White House official cited by Reuters.
  • The same administration includes senior officials expected to appear at the event, including Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, Defense Secretary Pete Hegseth and Attorney General Todd Blanche.
  • Trump’s own crypto-linked income and family ventures are central to the story: his annual financial disclosure showed most of the $2.2 billion he made last year came from digital currencies, including about $600 million from World Liberty Financial and $636 million from Trump-branded meme coins.
  • Public Citizen estimated that investors in crypto ventures tied to the president and his family are at least $4.7 billion underwater since 2022, with the TRUMP meme coin accounting for $3.2 billion of that total.
  • The contrast is analytical, not legal: federal data points to rising internet scam complaints, while Trump family crypto holdings raise investor-protection questions that senators asked the SEC to examine in August.

What happened

The White House event will focus on cybercrime prevention, with an emphasis on fraudulent crypto investment websites and online impersonation scams. The president and cabinet officials are expected to discuss the government’s seizure of fraudulent crypto investment websites, according to the official.

The event comes after an FBI report said Americans filed more than a million complaints about internet scams last year, a 17% increase from 2024. The report also said Americans who filed complaints reported the highest losses.

Separately, Trump’s financial disclosure showed that most of his $2.2 billion income last year came from digital currencies. About $600 million was tied to World Liberty Financial, and $636 million came from sales of Trump-branded meme coins. The president defended the earnings, saying they were not illegal or wrong. Critics, including political commentator John Oliver, have accused him of giving investors access to the White House in exchange for putting money into his crypto businesses. The White House has said neither the president nor his family have engaged or will engage in conflicts of interest.

Market context

Public Citizen’s estimate provides the clearest quantitative marker of investor losses tied to Trump family crypto ventures. It says investors are at least $4.7 billion underwater since 2022. Most of those losses are unrealized, meaning holders still own the assets rather than having sold them at a loss.

The TRUMP meme coin is the largest component, with an estimated $3.2 billion of losses. The token has lost more than 97% of its value since reaching an all-time high of $73 in January 2025. The token was also reported to have gained more than 7% in 24 hours to around $1.82. World Liberty Financial investors are at least $1 billion underwater by the same estimate.

The market context matters because meme coins and early-stage crypto tokens often depend on branding, celebrity association and short-term trading demand rather than cash-flow-like fundamentals. When prices fall sharply, investors may face both realized losses if they sell and unrealized losses if they hold.

Why it matters

For readers, the key issue is the overlap between consumer fraud and investor exposure. The FBI complaint data shows internet scams are increasing in reported volume, and crypto investment fraud is one channel where foreign criminal networks can lure Americans into fake platforms or impersonation schemes. That is the official focus of Wednesday’s event.

Trump’s family crypto activity is different: it is disclosed business activity, not an alleged foreign scam operation. Still, the scale of income and the size of estimated investor losses make it politically and reputationally sensitive. Senators Elizabeth Warren and Richard Blumenthal asked SEC Chair Paul Atkins in August to investigate the meme coin, suggesting it may have allowed fraud or unfairly enriched people at the expense of everyday investors.

Ownership and control are also relevant. Public Citizen reported that the president continues to own and control his businesses. His stakes, including the meme coin and World Liberty Financial’s two tokens, sit in a revocable trust in which he is the sole donor and beneficiary, and his eldest son is the sole trustee. This structure places family crypto ventures close to the presidency, even as the White House denies conflicts of interest.

What to watch

The event may show how the administration separates foreign criminal fraud from broader crypto investment risk. The seizure of fraudulent crypto investment websites and anti-impersonation measures are enforcement actions, while senators’ request for an SEC review points to investor-protection and disclosure questions.

Another factor is whether Public Citizen’s unrealized-loss estimate changes as tokens trade. The TRUMP meme coin’s more than 97% decline from its January 2025 peak and its move to around $1.82 after a 24-hour gain of more than 7% illustrate how quickly optics can shift without changing the underlying ownership structure or the August SEC inquiry request.

For market participants, the practical takeaway is to distinguish three categories: fraudulent schemes targeting consumers, disclosed crypto ventures earning income for insiders, and investor losses in tokens whose value can fall sharply. The White House event, the FBI complaint data and the family crypto disclosures all point to the same broader question: how much transparency and accountability remain around crypto activity when the president’s own family is heavily involved in soliciting investments.