1 Million & Counting: Trump Cracks Down On Overseas Crypto Scams

1 Million & Counting: Trump Cracks Down On Overseas Crypto Scams

Americans have reported over 1 million crypto crimes online, a mouth-dropping 17% uptick since last year.

Written by Samantha Diamo . October 22, 2026, 5:25 PM GMT

President Donald Trump is set to spotlight his administration’s efforts against foreign crypto fraud networks during a White House event focused on cybercrime prevention. The announcement arrives as the Official Trump (TRUMP) meme coin continues to trade well below its early-2025 peak, with limited direct connection between the policy focus and the token’s price action.

Trump Puts Focus On Foreign Fraudsters

According to a White House official cited by Reuters, Trump and senior cabinet members, including Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, Defense Secretary Pete Hegseth, and Attorney General Todd Blanche, are expected to highlight seizures of fraudulent crypto investment websites and steps to disrupt online impersonation scams.

The remarks build on a March executive order that directed the Justice Department to prioritize prosecuting online scammers. Recent enforcement actions have included international operations leading to arrests and the takedown of scam-linked accounts, with crypto fraud remaining a major source of reported losses for U.S. victims. The Donald Trump administration has pointed to hundreds of millions of dollars in halted fraudulent transactions and the seizure of hundreds of fake investment sites as part of the broader push.

Limited Direct Link to the TRUMP Token

The Official Trump meme coin, launched on Solana in early 2025, currently trades near $1.76, down more than 97% from its all-time high above $70. Trading volume remains elevated relative to its market cap , but price movement has largely tracked broader market sentiment rather than specific policy announcements.

A White House emphasis on cracking down on overseas scams does not target the TRUMP token itself, which operates as a politically branded meme asset with concentrated holdings and a multi-year unlock schedule. For holders, the price path remains tied more closely to liquidity conditions, unlock dynamics, and broader risk appetite.

What the Development Implies for Price

In the near term, this Donald Trump-linked event is more likely to reinforce existing narratives around crypto enforcement than to drive a