Source: Fortune
Summary
Hunter Biden is launching a memecoin called $LAPTOP, set to debut on Sept. 9, with a one-billion-token supply. The token will be listed on Coinbase’s Base network, and 30% of the supply will be held by founders, including Biden, for six months. Twenty percent will be distributed to TRUMP token holders and Substack subscribers. The project aims to reframe the laptop controversy that surrounded Biden during the 2020 campaign. Critics have already questioned the move, with some calling it a scam.
Our Reading
The numbers tell one story.
Biden’s team is rolling out a token with a clear reference to past controversy.
The token’s supply and distribution are standard for a memecoin.
Founders will hold a large stake, locked for six months.
Political ties and crypto hype are a familiar mix.
Memecoins are often short-lived, but they draw attention.
Author: Evan Null
Memecoin Launch
Hunter Biden is entering the crypto space with a new memecoin called $LAPTOP. The token is set to launch on Sept. 9 and is based on a controversial laptop that was at the center of political scrutiny during the 2020 campaign. The project has already drawn criticism, with some users on X calling it a scam.
Token Details
The $LAPTOP token will have a supply of one billion and will be listed on Coinbase’s Base network. Founders, including Biden, will hold 30% of the supply, which will be locked for six months. Another 20% will be given to TRUMP token holders and Substack subscribers, as well as followers of Biden’s friend, Andrew Callaghan.
Political and Crypto Overlap
Biden is not the first high-profile figure to launch a memecoin. Former New York City Mayor Eric Adams and former President Donald Trump have also entered the space. These tokens often face sharp declines and accusations of being rug pulls, where insiders sell off their holdings, leaving others with losses.
Criticism and Backlash
The $LAPTOP project has already faced backlash on social media. Some users on X criticized Biden for promoting a memecoin, especially after he previously criticized Trump for similar actions. Platforms like Kraken have also pulled promotional posts as criticism grew.
Reframing Controversy
The $LAPTOP token is an attempt to reframe the laptop controversy that followed Biden. The laptop was seized by the FBI in 2019 and contained information about his business dealings and personal life. By turning this into a memecoin, Biden is trying to shift public perception, but the move has been met with skepticism.
