President Trump sues New York Times: Memecoin TRUMP and the accusations

President Donald Trump has just filed a lawsuit against the New York Times (NYT) in federal court, demanding $15 billion in damages for the accusation that the newspaper has defamed him, harming his reputation and business projects, particularly the memecoin $TRUMP .

Accusations from President Trump

According to the lawsuit, #NYT is accused of publishing several articles with misleading content, seriously damaging the memecoin TRUMP. The newspaper claims that this memecoin is a tool for foreign investors, particularly Justin Sun, to manipulate American politics. Additionally, NYT also criticized that crypto related to Trump is a launching pad for corruption and has caused many retail investors to incur heavy losses. President Trump asserts that all of the information above has caused enormous economic losses for him and his projects. He also accused NYT of being a "propaganda mouthpiece" for the Democratic Party and of directly intervening in the election.

Response and evidence

NYT has denied the accusations, claiming that the lawsuit has no legal basis and is merely an effort to hinder independent journalism. However, evidence presented from #Bloomberg and Chainalysis shows that Justin Sun has heavily invested in Trump’s crypto projects, and Trump and his family have earned at least $1.3 billion from these activities. Statistics also indicate that over 760,000 individual wallets have incurred losses when investing in TRUMP, while a few wallets and founding groups have earned hundreds of millions of dollars. The price of TRUMP has also decreased by nearly 90% from its peak, demonstrating the high risk of the memecoin. #anh_ba_cong