Trump Sues New York Times Over $TRUMP Meme Coin – What’s at Stake?

President Donald Trump has launched a $15 billion lawsuit against The New York Times, escalating his long-running battle with major U.S. media outlets.

The case, filed late Monday in a Florida court, accuses the newspaper of defamation and libel over its reporting, endorsements, and commentary on the President.

Trump Accuses Times of ‘Election Interference’ in Suit

The suit names The New York Times Company, reporters Susanne Craig, Russ Buettner, Peter Baker, and Michael S. Schmidt, along with the publisher Penguin Random House.

It cites several articles and a book, “Lucky Loser: How Donald Trump Squandered His Father’s Fortune and Created the Illusion of Success,” authored by Craig and Buettner, which Trump’s legal team described as “false, malicious, and defamatory.”

According to the filing, the reporting caused “reputational injury” to Trump’s personal brand and business interests, including his media company’s stock value, amounting to billions of dollars in damages.

In a statement posted to Truth Social, Trump accused the Times of being “a full-throated mouthpiece of the Democrat Party” and engaging in “a decades-long method of lying” about him, his family, and his political movement.

He framed the lawsuit as a response to what he called the paper’s “illegal campaign contribution” to Democrats, pointing specifically to its front-page endorsement of Kamala Harris during the 2024 presidential election campaign.

This legal action comes amid a broader pattern of Trump targeting news organizations. In July, he filed a lawsuit against The Wall Street Journal and its owner, Rupert Murdoch, after it reported on a crude note linked to Jeffrey Epstein, which Trump has denied writing.

His team has also pursued cases against ABC News anchor George Stephanopoulos and Paramount’s 60 Minutes, both of which were settled for sums exceeding $15 million.

The latest lawsuit claims the Times has abandoned journalistic standards and engaged in election interference through its coverage and endorsements.

The filing also references Trump’s television career, asserting that “The Apprentice” succeeded because of his “unique business acumen” and charisma, while dismissing reporting on his financial history as defamatory.

The New York Times has rejected the claims. In a statement, a spokesperson said, “This lawsuit has no merit. It lacks any legitimate legal claims and instead is an attempt to stifle and discourage independent reporting.

“The New York Times will not be deterred by intimidation tactics. We will continue to pursue the facts without fear or favor and stand up for journalists’ First Amendment right to ask questions on behalf of the American people.”

The case shows Trump’s aggressive use of litigation against what he describes as “fake news” outlets, raising questions about press freedom and the political stakes as he continues to position himself at the center of the U.S. media and political landscape.

Trump Meme Coin ETF Proposed as Token Loses 88% From January Peak

On August 27, crypto fund manager Canary Capital filed to launch the first U.S. spot exchange-traded fund (ETF) tied directly to President Donald Trump’s meme coin, TRUMP.

The filing, under the Securities Act of 1933, pledges full token backing held in regulated custody, setting it apart from earlier ETF proposals that sought exposure through offshore subsidiaries.

If approved, it would be the first ETF in U.S. history linked to a sitting president’s personal crypto project. Yet analysts remain skeptical. Bloomberg’s Eric Balchunas noted that spot ETFs usually require a futures market for at least six months before gaining SEC approval.

TRUMP lacks that framework, making approval uncertain despite the SEC’s softened stance on crypto under Trump’s leadership. In February, the commission declared that meme coins were not securities, placing them beyond direct oversight.

The filing comes as TRUMP continues to struggle in the market. The token is trading around $8.59, up 1.7% in the past 24 hours but down 9% over the past month. It has lost 88% of its value since peaking at $73.43 in January, the day before Trump’s inauguration.

Daily trading volumes have collapsed from $36 billion in January to about $300 million, indicating fading retail interest.

Despite volatility, Trump’s family has leaned further into crypto. Cryptonews estimates the president and his relatives have earned more than $620 million from digital assets, which now account for 9% of his $6 billion fortune.

Real estate, once 86% of his wealth, has dropped to about half.

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