The head of the FBI's Virtual Assets Unit joined a Coinbase-heavy panel in New York focused on security and institutional adoption
Crypto conferences usually feature founders, fund managers and the occasional celebrity. At Ripple Swell 2026 in New York, the lineup also included the FBI.
Patrick Wyman, Unit Chief of the FBI’s Virtual Assets Unit (VAU), said digital assets play a growing role in agency investigations. That is a notable message to deliver at a conference full of people building the industry those investigations touch.
A federal agent walks into a crypto conference
Wyman spoke on October 28, 2026, as part of a panel titled “The $3.7M Wake-Up Call.” The session’s central argument was that security is a major factor in whether institutions adopt digital assets.
He shared the stage with Steve Wisniewski and Michael Sikorski, both of Coinbase. Ali Tager moderated the discussion.
Wyman leads a unit built for exactly this kind of work. The VAU was set up to strengthen the FBI’s ability to investigate cases involving digital assets.
The unit acts as a hub for digital asset investigations across the FBI’s various divisions. A field agent chasing a fraud case does not need to become a crypto expert overnight. The VAU supplies that expertise.
The numbers behind the unit
The VAU’s work goes beyond chasing criminals after the damage is done. The unit has supported proactive outreach to victims, an approach that tries to reach people before their losses grow.
That effort has identified more than 4,300 victims of crypto investment fraud. It has also prevented an estimated $285 million in potential losses.
Wyman brings a long background in financial crime to the role. He joined the FBI in January 2009 and has worked on white-collar crime, mortgage fraud and money laundering cases.
Why blockchain analytics matter to investigators
Wyman supports law enforcement’s use of blockchain analytics tools to trace and seize illicit digital assets.
What this means for institutions and the industry
The panel’s core theme, that security drives institutional adoption, is where the stakes become clearer.
Having an FBI unit chief on stage beside Coinbase representatives sends a signal that security is being treated as a shared responsibility. Exchanges handle the front line. Law enforcement handles the follow-through.
For investors and traders, the emphasis on security reinforces how much compliance now matters. As regulatory scrutiny continues to increase, firms handling digital asset transactions may need to strengthen their security practices to match what law enforcement expects.
For now, the takeaway from New York is fairly simple. The FBI sees digital assets showing up more often in its cases. It has built a dedicated unit to handle that work. And its leaders are increasingly willing to show up where the industry gathers and talk about it in public.
