Hunter Biden Launches Meme Coin Tied to Laptop Scandal
Hunter Biden, son of former President Joe Biden, is venturing into the cryptocurrency space by launching a meme coin named LAPTOP, slated for release on September 9. The project, announced via a post on X, directly leverages the controversy surrounding a laptop that became a focal point of political debate.
According to The Wall Street Journal, the LAPTOP meme coin will operate on Base, an Ethereum layer-2 network developed by Coinbase in 2023, designed for faster and more cost-effective transactions.
The choice of name is a clear reference to the laptop that a Delaware repair shop turned over in 2019. The contents of this device were published by the New York Post weeks before the 2020 presidential election, sparking a prolonged political firestorm. The Journal reports that Biden is not merely lending his name to the project but is actively involved as a founding team member.
The LAPTOP token will have a total supply of 1 billion coins. Founders, including Biden, will hold 30% of this supply, which will be subject to a vesting schedule: locked for six months and then gradually released over two years. This mechanism is intended to prevent early dumping of tokens by insiders.
An additional 20% of the total supply is allocated for charity donations, liquidity provision, payments to exchange partners and market makers, as well as covering the accounting and legal expenses for the token’s foundation.
The project team also plans to burn 30% of the supply if certain criteria are met, such as Bitcoin reaching a new all-time high or a Democrat winning the 2028 presidential election.
The remaining 20% of the tokens are earmarked for two rounds of airdrops, which are free token giveaways to specific wallet holders. This aspect of the project is designed to attract a particular audience.
Eligibility for these airdrops will extend to subscribers of Biden’s Substack newsletter and members of Andrew Callaghan’s Channel 5 mailing list. A separate portion of the airdrop is reserved for traders who have incurred losses on TRUMP, a meme coin associated with former President Donald Trump. This segment is notable given that the TRUMP coin has experienced a consistent downward trend since its inception.
Entities connected to the Trump Organization reportedly control 80% of the TRUMP coin’s supply under their own multi-year vesting schedule. This concentration of tokens in the hands of founders mirrors the structure of Biden’s LAPTOP coin, with both projects placing a significant portion of their supply with their respective founding groups.
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