Trump Sues *NYT* Over Crypto Losses, Accusing It of Bias and Deception

President Donald Trump has launched a $15 billion defamation lawsuit against The New York Times, alleging that the publication has long served as a “mouthpiece” for the Democratic Party and defamed him through its reporting. The suit, filed in a Florida court, names the Times Company, four of its journalists, and a book written by two of them. Trump accused the paper of engaging in a “decades-long method of lying” about him, his family, and his business ventures, including his cryptocurrency initiatives. He claimed the reporting damaged his brand and business interests, including those tied to his media company and crypto projects.

Among the specific claims in the lawsuit is that the Times’ coverage negatively impacted the value of Trump’s Solana-based meme coin project. The lawsuit alleges that articles and a book published in late 2024 undermined public perception of the project, particularly in Florida, and contributed to economic losses. The Trump token, launched in January 2025, initially soared to a fully diluted valuation of $73 billion but later plummeted by over 88%, reaching $8.6 billion. Despite this downturn, Trump’s broader crypto ventures have reportedly added billions to his net worth, including a recent $6 billion increase linked to the launch of trading for WLFI, the native governance token of his family’s crypto platform, World Liberty Financial.

The Times has denied the allegations, with a spokesperson stating the lawsuit lacks “any legitimate legal claims” and represents an attempt to stifle independent journalism. The spokesperson emphasized the outlet’s commitment to the First Amendment and the pursuit of factual reporting. This is not the first time Trump has pursued legal action against media outlets; in recent months, he has sued or reached settlements with other media entities, including Paramount over a 60 Minutes interview with Kamala Harris and The Wall Street Journal for its coverage of a 2003 note allegedly authored by Trump and addressed to disgraced financier Jeffrey Epstein.

Trump has a history of legal challenges against the media, often framing them as retaliation for what he considers biased or defamatory coverage. In a post on Truth Social, he called the Times “degenerate” and vowed that “the lies, smears, and defamations must stop now.” He also referenced previous threats to sue the Times for reporting on the Epstein note, which he has repeatedly denied writing.

Legal experts and media watchdogs have raised concerns about the broader implications of such lawsuits, noting that they could be used to intimidate journalists and suppress critical reporting. While the outcome of the New York Times case remains uncertain, it highlights the ongoing tensions between political figures and the media, particularly in the context of high-profile legal battles.