TLDR
- Trump filed a $15 billion defamation lawsuit against New York Times over meme coin coverage
- Lawsuit targets four reporters and claims their 2024 articles harmed TRUMP token reputation
- TRUMP meme coin launched January 2025, peaked at $73 billion, then crashed 88%
- Trump alleges Times acted as Democratic Party mouthpiece to damage his businesses
- This follows previous dismissed lawsuit where Trump sought $100 million from Times
President Donald Trump filed a $15 billion defamation lawsuit against the New York Times on Monday in Florida federal court. The lawsuit claims the newspaper’s 2024 reporting damaged his cryptocurrency ventures and business reputation.
The legal action targets four Times reporters who published articles and a book about Trump during fall 2024. Trump’s lawyers describe these publications as “false, defamatory, and malicious” content designed to harm his interests.
The lawsuit specifically alleges that Times coverage hurt the reputation of Trump’s TRUMP meme coin project. The Solana-based token launched in January 2025, months after the disputed articles were published.
Trump’s legal team claims the negative coverage prevented Florida residents from viewing his cryptocurrency project favorably. The suit seeks damages for what it describes as “enormous” economic losses across Trump’s business empire.
The TRUMP token experienced dramatic price swings after its launch. The meme coin initially soared to a fully diluted valuation exceeding $73 billion in its first days of trading.
Token Crashes Following Peak Performance
The TRUMP cryptocurrency has since lost most of its value through market volatility. The token has dropped approximately 88% from its all-time high to around $8.6 billion in market capitalization.
Trump alleges the Times deliberately timed its coverage to damage multiple business interests. The lawsuit claims this coordination affected Trump Media & Technology Group stock prices and his political campaigns.
The named reporters include those who wrote critical pieces about Trump’s financial history. The Times has previously won Pulitzer Prizes for its investigative reporting on Trump’s business dealings and tax records.
Previous Legal Battles With Media
This lawsuit represents the latest legal dispute between Trump and major news organizations. In 2023, a judge dismissed Trump’s previous $100 million lawsuit against the Times over tax record reporting.
That earlier case involved allegations of conspiracy between the newspaper and Trump’s niece Mary Trump. The court ruled the claims did not constitute a valid constitutional law question.
Trump’s current lawsuit comes as his cryptocurrency ventures have boosted his personal wealth. Earlier this month, Trump and his family saw their net worth increase by $6 billion when World Liberty Financial’s WLFI token began trading.
The lawsuit filing occurred hours after the Times published new reporting on World Liberty Financial. That investigation examined connections between the crypto platform and recent US-UAE agreements involving AI technology chips.
