Donald Trump has filed a $15 billion defamation lawsuit against The New York Times Magazine and publisher Penguin Random House, alleging a coordinated smear campaign that damaged his reputation and business interests. The suit specifically targets a book published by Penguin Random House and three New York Times pieces that Trump says contain distorted facts and were intended to influence the 2024 presidential race. The case is scheduled for trial in a federal court in Florida.
The book at the center of the suit is The Luckiest Loser: How Donald Trump Squandered His Father’s Fortune and Created the Illusion of Success, written by New York Times reporters Russ Buettner and Susanne Craig, both Pulitzer-winning journalists. The lawsuit also cites three Times articles released during the campaign period, including a September 14, 2024 article examining the role of television in building Trump’s public image and an October 20, 2024 piece chronicling decades of scandals leading toward a moment of judgment. A third campaign-era article that examined developments as the election approached is also included in the complaint.
Trump announced the filing on Truth Social and accuses the Times of breaching journalistic ethics to advance the interests of the Democratic Party; the paper had publicly endorsed Kamala Harris in fall 2024 and has criticized Trump for years.
“breaching journalistic ethics to advance the interests of the Democratic Party”
The suit lands amid market turbulence tied to a political-themed token that plunged roughly 70% from its peak on the second day after a January 2025 launch, raising questions about whether media coverage and reputational attacks can materially impact token valuations. Crypto traders and DeFi participants are watching closely, as the episode highlights how reputational and legal disputes can ripple into blockchain markets, affecting memecoins, governance tokens and market sentiment across Bitcoin, Ethereum and broader altcoin ecosystems.
- Defendants: The New York Times Magazine and Penguin Random House
- Book: The Luckiest Loser by Russ Buettner and Susanne Craig
- Articles cited: September 14, 2024 piece on television’s role; October 20, 2024 chronology of scandals; a third campaign-era article examining developments as the election approached
- Legal venue: Federal court in Florida (trial scheduled)
- Market impact: Political-themed token plunged ~70% after a January 2025 launch, highlighting crypto exposure to reputational risk
The case will test liability boundaries for publishers and could influence how media coverage factors into risk assessments for token issuers and crypto investors going forward.
