Trump Plans $15 Billion Defamation Lawsuit Against The New York Times
Donald Trump has filed a $15 billion defamation lawsuit against The New York Times while his TRUMP meme coin faces steep losses, and Canary Capital proposes the first ETF directly tied to the token.
Donald Trump filed a $15 billion lawsuit against The New York Times in a Florida court, alleging defamation and election interference. The suit targets several reporters, Penguin Random House, and cites the book 'Lucky Loser' as defamatory. Trump claims billions in damages to his reputation, business interests, and media company stock value. The New York Times rejected the claims, calling the case meritless and a threat to press freedom. In parallel, Canary Capital filed for a U.S. spot ETF tied directly to Trump’s meme coin, TRUMP. The ETF would be the first linked to a sitting president’s crypto project, though approval is uncertain due to lacking a futures market. TRUMP is trading around $8.59, down 88% from its January peak of $73.43, with daily volumes dropping from $36 billion to $300 million. Despite volatility, Trump and his family reportedly earned over $620 million from digital assets, now representing 9% of his $6 billion fortune.
- Defamation: A false statement presented as a fact that injures a party's reputation.
- Libel: A published false statement that is damaging to a person's reputation; a written form of defamation.
- ETF (Exchange-Traded Fund): An investment fund traded on stock exchanges, holding assets such as stocks, commodities, or cryptocurrencies.