Trump Week 26, Part 2: Media Lawsuit, Crypto Law, and Epstein Fallout
As Trump sues the WSJ and celebrates Colbert’s cancellation, the administration advances crypto legislation and reopens Epstein grand jury files.
Trump’s 26th week ended with lawsuits, new legislation and public backlash. The Department of Justice (DOJ) filed a request to unseal documents related to Jeffrey Epstein, reigniting public scrutiny as allegations of Trump’s potential involvement continued to grow. Shortly after, Trump filed a defamation lawsuit against The Wall Street Journal over its publication of a letter he wrote to Epstein.
Simultaneously, CBS faced backlash after canceling The Late Show with Stephen Colbert following a $16 million settlement with the Trump administration. The move came after a previous Introspective report revealed Trump had sued the network over a 2024 interview with former Vice President Kamala Harris, alleging the segment was edited to boost her chances in the election.
On the legislative front, Trump signed the GENIUS Act—the first major federal cryptocurrency bill—making it easier for banks to issue stablecoins, a form of digital currency. That same day, following an earlier Introspective report highlighting $6.6 billion in withheld public school funding, the administration unfroze $1 billion for after-school and summer programs.
Meanwhile, Director of National Intelligence Tulsi Gabbard accused former President Barack Obama and his administration of fabricating claims of Russian interference in the 2016 election to help Trump win.
Epstein Case and WSJ Lawsuit
As allegations over President Trump’s involvement with Jeffrey Epstein continue to grow, the Department of Justice requested the unsealing of grand jury records related to federal investigations into the late financier and convicted child sex offender.
"At the direction of the Attorney General, the Department of Justice hereby moves the Court to release grand jury transcripts associated with the above-referenced indictment," the court filing stated.
"While the Department of Justice and Federal Bureau of Investigation continue to adhere to the conclusions reached in the Memorandum, transparency to the American public is of the utmost importance to this administration."
"Given the public interest in the investigative work conducted by the Department of Justice and Federal Bureau of Investigation into Epstein, the Department of Justice moves the Court to unseal the underlying grand jury transcripts in United States v. Epstein, subject to appropriate redactions of victim-related and other personal identifying information," the filing continued. It further requested that the court “conclude that the Epstein and [Ghislaine] Maxwell cases qualify as a matter of public interest, release the associated grand jury transcripts, and lift any preexisting protective orders,” the statement concluded.
The DOJ’s filing comes shortly after Trump filed a $10 billion lawsuit against The Wall Street Journal, its publisher Dow Jones & Company, and its parent company News Corporation—which also owns Fox News—following the publication of an alleged letter Trump wrote to Epstein in 2003.
"We have just filed a POWERHOUSE lawsuit against everyone involved in publishing the false, malicious, defamatory, FAKE NEWS 'article' in the useless 'rag' that is The Wall Street Journal," Trump posted on Truth Social.
"This lawsuit is filed not only on behalf of your favorite President, ME, but also in order to continue standing up for ALL Americans who will no longer tolerate the abusive wrongdoings of the Fake News Media."
In a statement obtained by Politico, Dow Jones said the lawsuit will be challenged.
"We have full confidence in the rigor and accuracy of our reporting, and will vigorously defend against any lawsuit," the company said.
Stephen Colbert and Tulsi Gabbard
Backlash erupted after CBS announced it would cancel The Late Show with Stephen Colbert—now set to end in May 2026—following a $16 million settlement with the Trump administration. The decision comes after a previous report from The Introspective detailed a lawsuit against the network over a 2024 interview with former Vice President Kamala Harris, in which the Trump administration alleged the interview was deceptively edited.
“Yeah, I share your feelings,” Colbert said during a Thursday taping of the show.
“It’s not just the end of our show, but it’s the end of The Late Show on CBS. I’m not being replaced. This is all just going away.”
In a press release, Paramount—the parent company of CBS—claimed the cancellation was purely a financial decision, not a political one.
“This is purely a financial decision against a challenging backdrop in late night. It is not related in any way to the show’s performance, content, or other matters happening at Paramount,” the company said, noting the series has been the highest-rated late-night show for nine consecutive years.
“Our admiration, affection and respect for the talents of Stephen Colbert and his incredible team made this agonizing decision even more difficult. With much gratitude, we look forward to honoring Stephen and celebrating the show over the next 10 months alongside its millions of fans and viewers.”
President Trump celebrated the cancellation on Truth Social, while also calling for ABC to cancel Jimmy Kimmel Live! and insulting NBC’s Jimmy Fallon.
“I absolutely love that Colbert got fired. His talent was even less than his ratings. I hear Jimmy Kimmel is next. Has even less talent than Colbert! Greg Gutfeld is better than all of them combined—including the Moron on NBC who ruined the once-great Tonight Show,” Trump wrote.
The cancellation was condemned by the Writers Guild of America (WGA), which called on New York State Attorney General Letitia James to investigate.
“Given Paramount’s recent capitulation to President Trump in the CBS News lawsuit, the Writers Guild of America has significant concerns that The Late Show’s cancellation is a bribe—sacrificing free speech to curry favor with the Trump administration as the company looks for merger approval,” the WGA said in a press release.
Sen. Adam Schiff, a guest on Thursday’s show, also called for transparency from CBS.
“If Paramount and CBS ended The Late Show for political reasons, the public deserves to know—and deserves better,” he wrote on X.
Meanwhile, Director of National Intelligence (DNI) Tulsi Gabbard accused former President Barack Obama and his administration of participating in a “treasonous conspiracy” by fabricating claims that Russian interference in the 2016 election helped Trump win.
“No matter how powerful, every person involved in this conspiracy must be investigated and prosecuted to the fullest extent of the law, to ensure nothing like this ever happens again,” Gabbard said in a press release.
A memo released later named former DNI James Clapper, former CIA Director John Brennan, and former FBI Director James Comey as subjects in the investigation.
Legislation and Restored Funding
President Trump signed the GENIUS Act into law on Friday, marking the first major federal cryptocurrency bill. The legislation aims to make it easier for banks to distribute stablecoins—a type of digital currency.
“I pledged that we would bring back American liberty and leadership and make the United States the crypto capital of the world. And that’s what we’ve done under the Trump administration,” Trump said.
Rep. French Hill, chairman of the House Financial Services Committee, praised the signing in a statement.
“Our years of diligent work in Congress to bring clarity to payment stablecoins has reached a historic turning point. President Trump called on Congress to send him landmark legislation to his desk by August, and we have delivered,” he said.
Rep. Maxine Waters, the committee’s ranking member, criticized the bill as “unstable.”
“It leaves the door open for foreign firms that present a major national security threat—including targets of sanctions—all to appease those in the Trump family’s inner circle, which has ties to those shady entities,” she said in a press release.
“The Unstable Act creates the appearance of a federal framework for stablecoins, but it does not provide the federal government with the full authority it needs.”
At the same time, following a previous Introspective report highlighting $6.6 billion in public school funding being withheld, the Trump administration unfroze $1 billion for after-school and summer programs.
“The programmatic review is over for 21st Century Community Learning Centers (21st CCLC),” an official told ABC News.
“Funds will be released to the states. Guardrails have been put in place to ensure these funds are not used in violation of executive orders.”
In a statement, Afterschool Alliance—a nonprofit that advocates for affordable after-school programs—welcomed the restored funding but underscored the damage the freeze caused to students and communities.
“While we are thrilled the funds will be made available and thank the bipartisan lawmakers and state attorneys general who fought for their release, the administration’s inexplicable delay in disbursing them caused massive chaos and harm—with summer learning programs abruptly shutting down and a large number of afterschool programs canceling plans to open in the fall,” said Executive Director Jodi Grant.
“Those programs have now fallen behind on hiring, outreach, contracting, and other work needed to fulfill their essential mission to keep students safe, inspire them to learn, and give working parents peace of mind that their kids will be safe and supervised when schools are out.”