Hunter Biden confirmed he is releasing a meme coin called LAPTOP, posting the ticker on X alongside a Fox News clip about the computer. His post accumulated more than 1.7 million views, demonstrating the launch's ability to capture attention within crypto circles.
The crypto community's initial reaction, however, has been largely negative. Online responses skewed toward mockery, with some users criticizing Biden as a hypocrite for launching what they view as a scam after previously criticizing similar ventures by others.
The LAPTOP token specifically targets people who lost money on meme coins launched by President Donald Trump and Melania Trump in 2025. Both of those tokens have lost more than 90% of their market capitalizations since launching. The LAPTOP airdrop allocates 20% of the total token supply to major losers on the TRUMP token.
Several technical concerns have emerged around the launch. Traders pointed out that announcing the token two days in advance with the ticker already circulating gives automated buyers—bots and snipers programmed to execute trades at launch—an early advantage over regular participants. Within minutes of Biden's announcement, multiple copycat tokens using the LAPTOP ticker appeared on different networks, prompting warnings to treat any pre-launch trading as potentially fraudulent.
The launch has also sparked debate about exchange strategy and chain competition. A Kraken promotion of the LAPTOP listing circulated Monday before being removed. Pump.fun, the meme coin creation platform, promoted the token on its own account, advertising 0.1% trading fees. Some traders framed the listings as a symptom of competition between blockchain networks, with Base and Solana competing for relevance against newer platforms that have captured significant meme-coin volume.
Biden has publicly stated his reasons for entering crypto. In an interview with former Fox News host Tucker Carlson, he said he is interested in the technology and wants to make money. He also referenced his legal bills during that discussion. Court records show Biden owes approximately $17 million to his former law firm Winston & Strawn from unpaid legal fees related to felony gun charges and tax cases from 2024, for which he received a pardon from his father, former President Joe Biden.
Historical patterns suggest meme coins launched by celebrities and political figures typically experience short-term price increases before declining significantly. Libra, promoted by Argentine President Javier Milei, reached a $4.5 billion valuation within hours before crashing. Hailey Welch's Hawk Tuah coin jumped to a $491 million market cap and subsequently lost more than 90% of its value. Traders note that when developers control most of a meme coin's supply, the token often depreciates sharply.
