Donald Trump has accused the New York Instances (NYT) of damaging his $TRUMP memecoin in a $15 billion defamation lawsuit filed in opposition to the publication.
The lawsuit, filed in a Florida court docket, alleges that the outlet broken $TRUMP’s status, in addition to that of his social media platform Reality Social and the broader Trump Group, with a number of dangerous statements.
Trump is following up on authorized threats he made after the NYT revealed a sequence of birthday letters despatched to the pedophile Jeffrey Epstein. These included a poem and a drawing of a nude lady allegedly signed by then president. He denies writing the letter.
Within the lawsuit, Trump additionally claims that the NYT was a ringleader for alleged election interference orchestrated by the legacy media in 2024, describing it as a “full-throated mouthpiece” for the Democrat celebration.
The go well with focuses on a “malicious, defamatory, and disparaging” e-book and three “false, malicious, defamatory, and disparaging” articles printed earlier than the election.
New York Instances is crucial of $TRUMP memecoin
The New York Instances has lined Trump’s memecoin quite a few instances, reporting in regards to the political affect it has granted to foreign-based traders, the losses incurred by traders, and the way his crypto enterprise is a “muzzle velocity for corruption.”
One of many coin’s greatest patrons is Chinese language crypto billionaire Justin Solar, who has, in flip, obtained monetary backing from Trump’s World Liberty Finance, which additionally awarded him the position of undertaking advisor.
Nonetheless, Solar’s relationship with World Liberty Monetary was strained earlier this month when the agency blacklisted his addresses.
Welker: You’re not profiting off of the cryptocurrency?
Trump: I haven’t even seemed. If I personal inventory in one thing and I do an excellent job and the market goes up, I suppose I’m profiting. However who actually income is somebody like Pelosi who makes use of inside data. pic.twitter.com/rcEvcvW5zk
— Acyn (@Acyn) Might 4, 2025
At present, $TRUMP’s market cap is $1.7 billion, down 80% from its all-time excessive of $8.8 billion. Regardless, the coin is symbolic of the crypto sleaze dogging the present administration, and which has now concerned Trump’s sons, Eric and Donald Trump Jr.
The pair are cashing in on their crypto connections and testing the bounds of conflicts of curiosity as they work with crypto prediction markets, partnered with crypto exchanges, and invested in controversial streaming websites backed by Tether.
