Trump Sues New York Times for $15 Billion Over Defamation, Media and Crypto Losses

President Donald Trump has filed a $15 billion defamation lawsuit against The New York Times, claiming its reporting damaged his reputation, media company, and Solana-based meme coin. The case, lodged in a Florida federal court, accuses the Times of abandoning journalistic standards and serving as “a mouthpiece for the Democrat Party.”

The lawsuit targets reporters Susanne Craig and Russ Buettner, their book Lucky Loser, and publisher Penguin Random House, alleging false and malicious statements. Trump argues the coverage caused significant losses for Trump Media & Technology Group (TMTG), which owns Truth Social and recently expanded into cryptocurrency. He also blames the reporting for undermining investor confidence in his Solana meme coin, which has dropped nearly 80% since launch.

Trump’s complaint claims the Times engaged in election interference by endorsing Kamala Harris in 2024 and timing the book’s release to coincide with The Apprentice film trailer, which he says contributed to a steep decline in TMTG’s stock. In a Truth Social post, he accused the paper of using “decades-long lies” against him, his family, and the MAGA movement.

This lawsuit continues Trump’s aggressive legal push against major outlets. He recently secured multimillion-dollar settlements with Wall Street Journal, Rupert Murdoch, ABC’s George Stephanopoulos, and Paramount’s 60 Minutes, with Paramount paying $16 million in July.

The Times dismissed the case as meritless, saying it will not be intimidated. Meanwhile, Trump’s meme coin, once valued above $40, now trades around $8.63, with daily volumes near $175 million. Melania Trump’s token has fared worse, falling to $0.20 with weak liquidity. Despite the downturn, Trump and his family have reportedly profited billions from World Liberty Financial’s WLFI token and broader crypto holdings, which now represent about 9% of his $6 billion fortune.