President Donald Trump will reportedly highlight his administration’s crackdown on overseas crypto investment frauds at a White House event on Oct. 21. As per a White House official who spoke
President Donald Trump will reportedly highlight his administration’s crackdown on overseas crypto investment frauds at a White House event on Oct. 21.
As per a White House official who spoke to Reuters, Trump and his cabinet allies will tout the administration's crackdown on fraudulent crypto investment websites and online impersonation scams.
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Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, Defense Secretary Pete Hegseth, and Attorney General Todd Blanche are expected to attend the event.
The blockchain data and analytics company Chainalysis estimated that crypto scams and fraud stole approximately $17 billion in 2025.
AI-enabled scams were 4.5 times more profitable than traditional scams and impersonation scams showed a 1,400% growth year-over-year (YoY), as per the report.
As Trump is expected to make a White House address, mysterious traders bought millions of dollars worth of Bitcoin (BTC).
As the onchain analytics platform Lookonchain, three newly created crypto wallets received 1,090 BTC worth $90.38 million from Wintermute, a global algorithmic trading firm and digital asset market maker.
Crypto’s mysterious movers that make or break markets (4:24)Though crypto wallet addresses are public, the names behind them remain anonymous. That is why such a crypto trader is also called a "mysterious trader" because their identity remains hidden.
Such traders tend to make big bets ahead of major announcements, such as the president's address, the Federal Reserve's interest rate decisions, trade deal announcements, etc.
The three mysterious traders highlighted by Lookonchain are whales who have accumulated Bitcoin in the hope that the leading cryptocurrency will hit new highs.
BTC/USD, Source: DecibelBitcoin hit the peak of $126,080 on Oct. 6, 2025. But more than a year later, it's trading more than 33% lower at $83,962, as per Decibel.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and risky. Always conduct your own research before making any investment decisions.
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