Hunter Biden is launching a meme coin named LAPTOP on Coinbase's Base network. Described by its creator as a symbol of “resilience, redemption, and recovery,” the token takes its name from the 2019 laptop controversy that later became a significant political issue during the 2020 United States presidential election.
During the launch, Biden criticized Donald Trump’s TRUMP meme coin, characterizing it as a “grift” and stating that nearly one million TRUMP wallets have incurred losses totaling approximately $3.8 billion. In contrast, he stated that the LAPTOP project aims to give back to the crypto community and charity, warning buyers at the same time not to expect him to drive up the token's value.
Tokenomics and Distribution
The LAPTOP project features a fixed total supply of 1 billion tokens on the Base network. Project disclosures outline the following token distribution structure:
- Founders: 30% of the supply allocated to founders, including Hunter Biden, locked for six months and vesting over the subsequent two years.
- Airdrops: 20% of the supply designated for airdrops, with half unlocking on day one and the remainder later.
- Predictions: 30% allocated to a pre-programmed list of public events tied to burn or charity mechanisms.
- Liquidity: 10% allocated to liquidity.
- Foundation Treasury: 5% allocated to the foundation treasury.
- Charity: 5% allocated directly to charity, with a major portion directed to charitable causes overall.
Day-one claims account for 100 million tokens. Of this initial allocation, 20 million tokens are designated for wallets that experienced losses on the TRUMP meme coin, while 80 million tokens are reserved for Hunter Biden’s Substack subscribers. Any unclaimed day-one tokens are scheduled to be burned after 30 days.
Market Reaction
The announcement of the token launch drew largely negative responses from prominent figures in the digital asset space. Investigator Coffeezilla criticized the move on social media, while popular trader Ansem compared the token to previous unsuccessful celebrity cryptocurrency launches.
