Simply put
- President Trump has filed a $15 billion lawsuit against the New York Times, arguing that a 2024 article negatively impacted his memecoin initiative and various business ventures.
- The suit claims that several news pieces have devalued his projects, although the launch of Meme Coin actually took place in January 2025, several months later.
- Despite his broader cryptocurrency endeavors significantly increasing his net worth, Trump’s token soared to a $73 billion valuation before experiencing an 88% decline.
President Donald Trump is embroiled in a notable legal battle. The New York Times, he contends, has tarnished the reputation of his multi-billion dollar Solana Token project.
The litigation was submitted in a federal court in Florida, alleging that reporters intentionally disseminated false information about him. This was highlighted in various articles and a book, which Trump claims have resulted in “substantial” financial losses across his brand, properties, and overall business.
The lawsuit specifically references the reputation of Trump’s Solana, stating that the Meme Coin Project suffered as a consequence, affecting the sentiments of residents in Florida.
Interestingly, the lawsuit doesn’t mention any of Trump’s other digital asset initiatives, including his family’s crypto platform, World Liberty Financial.
Moreover, the timing of a new book from two reported authors appears deliberate, tracing its origins to Trump’s wealth during the 1980s. The lawsuit suggests that all these factors contributed to a “surge” and subsequent crash in the stock price of Trump Media & Technology Group.
This company, primarily owned by Trump, operates his social media platform. I’ve gotten involved in investing heavily lately, and it seems that the past few months have been quite eventful.
All the articles and books cited in the lawsuit were published in the fall of 2024, just ahead of the president’s own meme coin release in January, shortly before he assumed office.
Following the launch, the tokens initially skyrocketed to a total diluted valuation exceeding $73 billion, but they have since dropped by over 88%, now valued at around $8.6 billion.
Thanks to his cryptocurrency activities, Trump has experienced a notable increase in wealth since taking office. Earlier this month, he and his sons collectively saw their net worth rise by $6 billion after trading with WLFI, the native token of World Liberty.
This lawsuit against the President was filed just hours after the publication of an article that linked World Liberty’s commercial success to a recent profitable deal between the US government and the UAE involving AI chips.
