US President Donald Trump has filed a $15 billion lawsuit against The New York Times, alleging that the newspaper and several reporters deliberately damaged his reputation and the TRUMP memecoin project.
In a statement released on Truth Social, Trump accused the Times of spreading “lies and smears” that he believes are biased towards Democrats. He pointed to the newspaper’s endorsement of Vice President Kamala Harris in the last election as evidence of their partisan agenda, framing the lawsuit as a response to what he perceives as politically motivated attacks.
“They have been engaging in a deliberate pattern of abuse, which is not only unacceptable but also illegal. The New York Times has been allowed to spread lies, defame me, and tarnish my reputation for far too long, and that ends now! The lawsuit is being filed in the Great State of Florida,” Trump declared.
A spokesperson for The New York Times dismissed the lawsuit as lacking legal merit and characterized it as an attempt to suppress independent journalism.
The lawsuit targets several New York Times journalists, including Susanne Craig, Russ Buettner, Peter Baker, and Michael S. Schmidt, as well as book publishing company Penguin Random House, which published a book about Trump authored by Times reporters.
Trump’s legal team contends that the articles and book were published with malicious intent and strategically timed to coincide with the election season in order to inflict maximum political damage.
The lawsuit alleges that the publications not only attacked Trump’s reputation as a political candidate but also targeted his personal businesses, including the Trump Organization, as well as his media and cryptocurrency ventures like the TRUMP memecoin.
The court filing states, “[The] statements made in the articles falsely impugned President Trump’s reputation as a businessman and questioned the legitimacy of the Trump Organization, resulting in direct and foreseeable harm to the value, revenue, and profitability of these businesses.”
The lawsuit comes at a time when Trump’s memecoin has experienced significant market losses. Data from CryptoSlate shows that the $TRUMP token has plummeted by more than 88% in value since its launch.
Although cryptocurrency markets are known for their volatility, Trump’s legal team argues that the sustained negative coverage from the media worsened the token’s performance by eroding investor confidence.
In conclusion, the lawsuit against The New York Times marks another chapter in the ongoing battle between Trump and the media, highlighting the intersection of politics, journalism, and cryptocurrency in the digital age.