Trump uses 'cybercurrency' at White House roundtable as Circle shareholder sues over World Liberty Financial deals
Trump avoided the word 'cryptocurrency' at a White House cybercrime event while a Circle shareholder sued him over alleged foreign payments to his family's crypto venture.
Why it matters
The roundtable language suggests the administration may avoid 'cryptocurrency' terminology in official enforcement framing. The lawsuit tests whether a sitting president's family crypto business receiving foreign capital violates the Constitution's emoluments clauses and could shape stablecoin competition between USD1 and USDC.
Key facts
Trump hosted a White House cybercrime roundtable on Wednesday and used the term 'cybercurrency' but not 'cryptocurrency' or 'digital assets'
Reported by Cointelegraph
Trump said Americans lost more than $20 billion from cybercrime in 2025
20,000,000,000 USDReported by Cointelegraph
Federal officials froze $1 billion in 'cybercurrency tied to foreign scammers' in 2025
1,000,000,000 USDReported by Cointelegraph
Federal officials prevented $1.6 billion in losses in 2025 following a March executive order
1,600,000,000 USDReported by Cointelegraph
Circle shareholder J. Benjamin Greenberg filed a lawsuit against Trump, World Liberty Financial, affiliates, and Steve Witkoff on Thursday
Reported by Bitcoin Magazine
The lawsuit alleges an Abu Dhabi entity MGX invested $2 billion into Binance using the USD1 stablecoin in 2025
2,000,000,000 USDReported by Cointelegraph
The Wall Street Journal reported in February that an investment vehicle backed by Sheikh Tahnoon bin Zayed Al Nahyan agreed to purchase a 49% stake in World Liberty for $500 million
500,000,000 USDReported by Cointelegraph
World Liberty Financial was co-founded by Trump and his sons, and Trump stopped involvement after taking office in 2025
Reported by Bitcoin Magazine
What happened
At a White House cybercrime roundtable on Wednesday, President Trump described more than $20 billion in 2025 cybercrime losses and said officials froze $1 billion in 'cybercurrency tied to foreign scammers,' but he did not use the terms 'cryptocurrency' or 'digital assets.' Separately, Circle shareholder J. Benjamin Greenberg filed a lawsuit Thursday in the U.S. District Court for the District of Columbia against Trump, World Liberty Financial, affiliated entities, and Special Envoy Steve Witkoff. The suit alleges an Abu Dhabi entity, MGX, invested $2 billion into Binance using World Liberty's USD1 stablecoin in 2025, and that an investment vehicle backed by Sheikh Tahnoon bin Zayed Al Nahyan agreed to purchase a 49% stake in World Liberty for $500 million, as reported by The Wall Street Journal in February. The lawsuit claims this conduct harms Circle's USDC stablecoin by creating an unfair pathway for foreign governments to funnel money.
How the story developed
- First report
First report by Cointelegraph
Trump didn‘t mention ‘crypto’ once in White House cybercrime roundtable
- Update
Trump White House cybercrime roundtable
Trump used 'cybercurrency' terminology and cited $20 billion in 2025 cybercrime losses
- Independent corroboration
Independently corroborated by Bitcoin Magazine
Circle Shareholder Sues Trump, Alleging Unconstitutional Profits From $2B UAE Crypto Deals
- Official statement
Circle shareholder lawsuit filed
J. Benjamin Greenberg sued Trump, World Liberty Financial, affiliates, and Steve Witkoff in D.C. federal court
- Update
Cointelegraph reports on lawsuit details
Additional details on MGX, Binance, and the Wall Street Journal's February report on UAE stake purchase
- Update
Crypto News syndicates lawsuit report
Aggregator republishes the Cointelegraph lawsuit account
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 21 Oct 2026, 20:19 UTC: Cointelegraph — 1 independent source, 1 reports
- 22 Oct 2026, 21:23 UTC: Bitcoin Magazine — 2 independent sources, 2 reports
- 23 Oct 2026, 09:30 UTC: Bitcoin.com News, official — 3 independent sources, 5 reports
- 23 Oct 2026, 10:15 UTC: Unchained — 4 independent sources, 7 reports
- 23 Oct 2026, 10:17 UTC: Bitcoin Insider — 5 independent sources, 8 reports
- 23 Oct 2026, 20:17 UTC: CryptoPotato — 6 independent sources, 10 reports
- 24 Oct 2026, 15:45 UTC: CryptoSlate — 7 independent sources, 11 reports
Affected entities
Also mentioned: Binance, Bitcoin, U.S. Securities and Exchange Commission, Commodity Futures Trading Commission, Changpeng Zhao, TRON, Justin Sun
Original sources
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