Federal Judge Dismisses Trump’s $15B Lawsuit Against NYT, Triggering $TRUMP Coin Selloff

A federal judge has dismissed former President Donald Trump's $15 billion defamation lawsuit against The New York Times, citing procedural violations and excessive political rhetoric. The ruling sent shockwaves through the cryptocurrency market, particularly affecting the Trump-themed $TRUMP token.

Judge Steven D. Merryday of Florida's Middle District criticized the 85-page filing for violating Rule 8 of the Federal Rules of Civil Procedure, noting defamation claims didn't appear until page 80. The complaint included extensive commentary about Trump's business career and attacks on mainstream media - content the court deemed irrelevant to legal arguments.

Market reaction was immediate, with the $TRUMP meme coin experiencing significant selling pressure following the ruling. The court granted Trump's legal team 28 days to refile a streamlined version not exceeding 40 pages, leaving open the possibility of renewed legal and market volatility.