Trump’s $15B Attack on NYT: Media Bias or Meme Coin Bust?

President Donald Trump filed a $15 billion defamation lawsuit against the New York Times, claiming its reporting damaged his personal brand, media company, and Solana-based meme coin.

The case, filed Monday in a Florida federal court, intensifies Trump’s legal offensive against major US outlets.

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Trump Accuses Times of Defamation and Election Bias

Trump’s filing claims the New York Times abandoned journalistic standards and acted as “a full-throated mouthpiece of the Democrat Party.” It cites articles, endorsements, and the book Lucky Loser by reporters Susanne Craig and Russ Buettner. The lawsuit also names four Times reporters, along with publisher Penguin Random House, which Trump calls “false, malicious, and defamatory.”

He argues the reporting caused sharp losses to Trump Media & Technology Group and hurt confidence in his crypto ventures. Trump Media, where the president is the majority shareholder, operates his Truth Social platform and has recently invested heavily in cryptocurrency.

In a Truth Social post, he said the “degenerate” Times engaged in “a decades-long method of lying” about him, his family, and the MAGA movement.

The complaint accuses the Times of election interference, pointing to its front-page endorsement of Kamala Harris during the 2024 campaign. It also argues the book’s release was intentionally timed with the trailer for The Apprentice film, triggering a sharp drop in Trump Media’s stock price.

The lawsuit continues Trump’s aggressive litigation against media companies. He recently sued the Wall Street Journal and Rupert Murdoch, ABC anchor George Stephanopoulos, and Paramount’s 60 Minutes. Settlements exceeded $15 million, with Paramount paying $16 million in July.

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The Times dismissed the claims.

A spokesperson said, “This lawsuit has no merit. It is an attempt to stifle and discourage independent reporting. The New York Times will not be deterred by intimidation tactics.”

Trump’s Meme Coin Faces Collapse

The lawsuit explicitly links reputational damage to his meme coin project, launched on Solana in January, just before his inauguration. The official Trump coin initially surged above $40 but has since fallen sharply, now trading around $8.63 with daily volumes near $175 million—an almost 80% drop from its early peak.

Melania’s token has performed even worse, tumbling from launch highs of several dollars to just $0.20 by mid-September 2025. With daily trading volume at only $5.5 million, it reflects far weaker liquidity and diminished investor interest compared to Trump’s coin.

Despite the downturn, Trump and his sons reportedly gained $6 billion from the launch of World Liberty Financial’s WLFI token and an additional $620 million from broader digital asset holdings.

Experts estimate crypto now makes up 9% of Trump’s $6 billion fortune, while real estate has fallen to about half.