TLDR
- President Trump filed a $15 billion defamation lawsuit against The New York Times
- The lawsuit claims NYT reporting damaged his Solana meme coin project’s reputation
- Articles and a book published months before the token’s January 2025 launch are cited
- Trump’s token initially reached $73 billion valuation before crashing 88% to $8.6 billion
- Trump family wealth increased by $6 billion after their WLFI token began trading
President Donald Trump has filed a massive $15 billion defamation lawsuit against The New York Times, claiming the publication’s reporting harmed his Solana-based meme coin project along with other business ventures. The lawsuit, submitted Monday in a Florida federal court, alleges that four Times reporters published false information about the president across multiple articles and a book.
According to court documents, Trump claims these publications caused “enormous” economic damage to his brand, properties, and business interests. The lawsuit specifically mentions that his Solana meme coin project’s reputation suffered among Florida residents due to the Times’ reporting.
The timing of the allegations presents an interesting detail in the case. All the articles and the book cited in Trump’s lawsuit were published in fall 2024, several months before the January 2025 launch of his meme coin project.
Trump’s Expanding Crypto Empire
Despite the alleged damage, Trump’s token saw explosive growth initially. Shortly after its January launch, the meme coin reached a fully diluted valuation exceeding $73 billion. However, the token has since experienced a dramatic 88% decline, bringing its current valuation to approximately $8.6 billion.
The lawsuit doesn’t mention Trump’s other digital asset ventures, such as his family’s crypto platform, World Liberty Financial. This platform has become a major source of wealth for the Trump family in recent months.
Earlier this September, Trump and his sons saw their collective net worth increase by approximately $6 billion. This wealth surge occurred when trading launched for WLFI, the native governance token of World Liberty Financial.
Legal Claims and Market Context
The lawsuit makes specific claims about coordinated actions by the Times. Trump alleges that the publication of a book by two reporters about the origins of his wealth was intentionally timed to coincide with the release of a trailer for “The Apprentice,” a film about Trump’s rise to prominence in the 1980s.
Trump claims this coordinated timing triggered a “precipitous” drop in the stock price of Trump Media & Technology Group. This company, majority-owned by the president, operates his Truth Social platform and has made substantial investments in cryptocurrency in recent months.
The president’s legal action against the New York Times came just hours after the newspaper published an investigation. This investigation reportedly linked World Liberty’s business dealings to a recent lucrative agreement between the U.S. government and the UAE regarding AI chips.
Trump’s lawsuit specifically names four Times reporters as defendants. The legal filing claims they maliciously published false information about the president, leading to widespread damage to his business interests.
Crypto markets have closely watched Trump’s various digital asset ventures since his return to office. His administration has taken a generally favorable stance toward the cryptocurrency industry, coinciding with his own increasing involvement in the space.
The lawsuit was filed in a federal court in Florida, where many of Trump’s business interests are based. The complaint specifically focuses on alleged harm to his reputation among Florida residents.
Trump’s meme coin, despite its recent price decline, remains one of the largest tokens in the meme coin category. The project launched shortly before his January 2025 inauguration as president.
Trump’s lawsuit comes during a period of increased crypto activity from the president and his family. The Trump family’s World Liberty Financial platform has positioned itself as a major player in the decentralized finance space.
The New York Times has not yet issued a public response to the lawsuit. Legal experts suggest the case may face significant hurdles given the timing discrepancy between the publications and the launch of Trump’s meme coin.
