Trump Files $15 Billion Lawsuit Alleging New York Times' Reporting Caused Drop in TRUMP Token Value
President Donald Trump has initiated another legal action since leaving office, filing a defamation lawsuit against The New York Times for $15 billion. The lawsuit, filed in the Great State of Florida, names several journalists working for the newspaper, as well as Penguin Random House, a book publishing firm, as defendants.
The lawsuit alleges that The New York Times intentionally disparaged President Trump's reputation, causing harm to the market value and investor confidence of his TRUMP crypto project. The TRUMP token, a part of Trump's crypto project, has lost over 88% of its value since its launch in January.
According to Trump's legal team, the decline in the value of the TRUMP token was exacerbated by negative coverage from The New York Times. The lawsuit claims that the newspaper's negative coverage harmed the project's reputation, leading to a loss of investor confidence and a significant drop in the token's value.
The defamatory book at the center of the lawsuit is 'Lucky Loser,' written by Susanne Craig and Ress Buettner, and published by Penguin Random House. The book is accused of being intended to inflict political damage on President Trump, particularly during the election season.
The lawsuit does not specify which articles or journalists' actions in particular are being sued over. However, Trump made the statement on Truth Social, indicating that the suit is related to his ongoing legal actions since leaving office.
Trump's lawyers claim that the pattern of abuse by The New York Times is both unacceptable and illegal. They argue that the newspaper has a history of making false and defamatory statements about the former President, causing him significant harm.
The story about the lawsuit is an excerpt from the Unchained Daily newsletter. It remains to be seen how this latest legal action will unfold, but it is clear that President Trump is determined to fight back against what he sees as false and damaging coverage.
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