Journalist
Hassan Shittu
Journalist
Hassan Shittu
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A federal judge has struck down former U.S. President Donald Trump’s $15 billion lawsuit against The New York Times, a case that accused the paper of defamation and election interference.
The ruling, delivered by Judge Steven D. Merryday of the Middle District of Florida, criticized the filing as improper under Rule 8 of the Federal Rules of Civil Procedure, citing its length, tone, and political rhetoric.
The complaint stretched across 85 pages, with defamation counts not appearing until page 80.
The judge noted that it contained extended praise of Trump’s business career, his television show The Apprentice, and attacks on what it called “legacy media,” material that the court deemed excessive and irrelevant.
Judge Rejects Trump’s $TRUMP Coin 480-Page Lawsuit, Orders Slimmed-Down Refiling
In striking the case, the court left Trump’s legal team 28 days to amend and submit a shorter version not exceeding 40 pages.
Trump’s suit, filed on September 16, accused the Times and several of its reporters, including Susanne Craig and Russ Buettner, of publishing defamatory articles and a book that allegedly damaged his reputation and cost billions in brand value.
The complaint also named Penguin Random House, which published Lucky Loser: How Donald Trump Squandered His Father’s Fortune and Created the Illusion of Success.
Trump alleged that the Times acted as a “mouthpiece of the Democrat Party” and engaged in “persistent election interference,” pointing to its endorsement of Kamala Harris during the 2024 presidential election.
In a statement on Truth Social, he framed the case as a defense against decades of “false, malicious, and defamatory” reporting.
The New York Times dismissed the claims as meritless. A spokesperson said the lawsuit sought to stifle independent reporting and reaffirmed the paper’s commitment to defending First Amendment rights.
While the legal battle plays out, markets reacted swiftly. The rejection of the lawsuit and the potential refiling sent shockwaves into the world of digital assets, particularly the Trump-linked $TRUMP coin.
Following the court order, the token saw sharp sell pressure, with traders citing legal uncertainty and renewed volatility in assets tied to Trump’s political brand.
For the crypto sector, the case carries implications that extend beyond the immediate price swings. Industry observers noted three potential areas of impact:
- Crypto firms may highlight the ruling as a reminder of the risks tied to political tokens and personalities, using it to advocate for stronger investor education.
- Exchanges listing such tokens may introduce stricter risk disclosures, positioning themselves as responsible actors in a market sensitive to political developments.
- Media-driven volatility could provide new opportunities for platforms offering derivatives and hedging products, as traders seek to manage sudden swings triggered by political news.
The court’s order reflects Trump’s broader strategy of targeting media outlets with litigation. Earlier this year, he pursued cases against The Wall Street Journal and ABC News anchor George Stephanopoulos, with settlements reportedly topping $15 million.
His ongoing battles with national news organizations highlight the intersection of politics, media, and markets in the run-up to the next election cycle.
Following the lawsuit, the price of Official Trump (TRUMP) has continued to slide, trading at $8.43 after a 3.1% drop in the past 24 hours and a 4.4% decline over the past month.
Trump Token Tests Key Support Amid Prolonged Decline
The token remains 88.5% below its all-time high of $73.43. On the TRUMP/USDT 4-hour chart, the asset has been locked in a prolonged downtrend since mid-July, with a descending trendline repeatedly capping attempts at recovery.
Current price action shows TRUMP testing resistance near $8.80–$9.00, a zone that coincides with the trendline. A confirmed close above $9.00 would signal a breakout, potentially opening a path toward $9.50–$10.20.
Support has repeatedly held between $8.00 and $8.20, creating a base that has prevented deeper declines. Should this level fail, the next key support lies at $7.80, which analysts warn could re-establish bearish momentum.
Traders are watching closely for confirmation. A long position setup around $8.50–$8.80, with a stop loss just below $8.10, presents a risk-to-reward ratio of roughly 2:1.
Analysts note, however, that patience is required. “I never enter the moment a trendline breaks. I wait for the retest,” the analyst said, highlighting the importance of confirmation before committing.
TRUMP remains in a make-or-break zone, with momentum hinging on whether the $9.00 resistance finally gives way.
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