US President Donald Trump filed a lawsuit against The New York Times, some journalists and the publishing house Penguin Random House LLC for defamation. The politician claims that he suffered reputational damage that affected, among other things, his cryptocurrency project TRUMP.
The lawsuit mentions certain materials and the book Lucky Loser: How Donald Trump Squandered His Father’s Fortune and Created the Illusion of Success, published in September 2024. The politician believes that “they were deliberately designed to damage his business, personal and political reputation”.
Moreover, the prosecution’s position is that these materials were published with malicious intent. And as a result, Trump suffered a substantial loss.
The book and articles allegedly created a negative image, as if the politician exaggerates his successes, and his fame is the result of the efforts of the producers of the program The Apprentice.
The prosecution is seeking $15 billion in damages, an admission that the materials were libelous, and a public apology. Directly in The New York Times commented on the situation as follows:
“This lawsuit has no basis in fact. It contains no legitimate legal basis and, on the contrary, is an attempt to suppress and prevent independent reporting. The New York Times will not stop at intimidation tactics. We will continue to examine the facts in an impartial and unbiased manner and defend the right of journalists to ask questions on behalf of the American people, guaranteed by the First Amendment to the Constitution.”
On Truth Social, Trump posted the following message:
“I am receiving amazing responses to my lawsuit against The New York Times. The prevailing feeling and attitude is – “It’s about time!”. The case was filed in the state of Florida! The radical leftist media is trying their best to destroy the United States. We will stop them at every level!”
Among the list of projects and companies allegedly affected by the publications of the publication and its journalists are Trump Media and the meme coin OFFICIAL TRUMP (TRUMP). The latter was launched in January 2025.
According to TradingView, this asset was worth $46.5 at its peak, but at the time of writing it is around the $8.6 level. The drawdown is almost 70%.