Trump Sues New York Times for $15 Billion Over Cryptocurrency Debacle

The intersection of media influence and high-stakes politics has reached another crescendo as former President Donald Trump files a staggering $15 billion defamation lawsuit against The New York Times. The suit alleges that a series of 2024 articles and a book published by the news outlet inflicted severe reputational damage, not only to Trump’s business empire but also to his fledgling meme coin project, TRUMP, on the Solana blockchain.

The Allegations: Media vs. Trump

Trump’s legal action claims that The New York Times, through four journalists, deliberately disseminated false information, which led to a significant depreciation in the stock value of Trump’s media company and cast a shadow over the TRUMP meme coin’s market perception. The contested reports supposedly tainted Trump’s brand and disrupted business operations, prompting this drastic legal recourse.

The lawsuit further critiques the timing and substance of a particular book unveiling Trump’s financial history while alluding to its strategic release coinciding with the premiere of a film based on his real estate ventures. Trump argues that the negative portrayal affected both the film’s revenue and the stock performance of Trump Media & Technology Group (TMTG), where he holds substantial stakes.

The Cryptocurrency Angle: TRUMP’s Plummeting Value

Launched in early 2025, the TRUMP meme coin skyrocketed to a market cap of $15 billion but has since witnessed a precipitous 80% drop. Trump attributes this decline to The New York Times’ negative narratives, which, he claims, swayed investor sentiment within the crypto community negatively.

Despite this setback, Trump’s ventures in the decentralized finance (DeFi) space continue to thrive. In collaboration with his sons, Trump introduced the governance token for World Liberty Financial (WLFI), significantly bolstering their collective wealth. Recent reports indicate a jump in family assets by over $1.3 billion following the token’s successful market launch, raising their total estimated worth to $7.7 billion.

Broader Implications: Media, Politics, and Financial Markets

The lawsuit is more than just a financial claim; it represents the ongoing tug-of-war between political figures and media institutions. While news reports and public personalities can undoubtedly influence perceptions that sway stock and cryptocurrency valuations, the legal resolution of these assertions remains complex and unresolved.

A New York Times spokesperson dismissed the lawsuit as baseless and intended to deter journalistic integrity, suggesting that the claims lack merit in a legal context.

This case highlights the fragile balance between media reporting and market dynamics, especially in the volatile worlds of politics and cryptocurrency.