In March, the White House released a compact “Cyber Strategy for America” (Strategy) prioritizing an offense-oriented approach and public-private coordination to combat threat actors. The administration concurrently broke ground with an Executive Order (EO) to fight cybercrime and fraud schemes, which pledges to designate ransomware gangs as transnational criminal organizations and establishes a victim restoration program from clawed-back funds. This article analyzes the likely impacts of the Strategy and the EO on companies and national policy, and presents key aspects to watch, with commentary from experts at Aspen Digital, Boies Schiller, Skadden and Venable. It also reviews National Cyber Director Sean Cairncross’s recent public elaborations on the Strategy. See “Decoding the Administration’s First Cyber Executive Order” (Jun. 25, 2025).