Hunter Biden, son of former U.S. President Joe Biden, announced plans to launch a memecoin based on his laptop, which faced intense media scrutiny before the 2020 election. The memecoin, with ticker symbol $LAPTOP, was announced Monday on X with a planned Wednesday launch.
According to reporting from the Wall Street Journal, Biden will distribute 20% of the one-billion token supply to Substack subscribers, mailing list members, and investors in President Donald Trump's Official Trump memecoin. The TRUMP token has declined approximately 97% from its all-time high reached in January 2025.
The laptop that inspired the memecoin's name was the subject of significant scrutiny before the 2020 presidential election and has continued to be referenced by various media figures. Hunter Biden has filed two lawsuits related to privacy concerns surrounding the laptop.
The memecoin's founders, who hold 30% of the token supply, have stated they will burn up to 30% of the tokens depending on specific outcomes, including a Democrat winning the presidency in 2028, Bitcoin reaching an all-time high, or the memecoin's fully diluted value exceeding that of the TRUMP token.
Since his father left office in January 2025, Hunter Biden has increased his commentary on cryptocurrency and blockchain technology. In August, he criticized the Trump family's World Liberty Financial venture, comparing it to the defunct crypto exchange FTX. In June, he stated that "decentralized digital currency and the blockchain are the inevitable future."
The launch comes as Congress considers regulatory measures for the digital asset industry. The Digital Asset Market Clarity Act, also known as the CLARITY Act, is scheduled for a Senate cloture vote on September 15.
