Hunter Biden LAPTOP memecoin launched this week. The token debuted on September 9. It runs on the Base network. The name references his infamous laptop from a political controversy.
Why Hunter Biden LAPTOP memecoin matters
The Wall Street Journal reported the launch plans. The token’s name comes from the controversial laptop. This laptop was central to a political scandal.
Hunter Biden and the token’s founders will hold 30% of supply. The total supply is 1 billion tokens. The founders will lock their tokens for six months. They will gradually unlock them over two years.
Those who lost money on the TRUMP coin will receive an allocation. They will get up to 20% of the token’s supply. The meme coin is positioned as a dig at President Trump.
The tokenomics of LAPTOP
The team could burn up to 30% of the token’s supply. This depends on thirty predetermined outcomes. These include whether a Democrat wins the 2028 presidential election. BTC price reaching a new all-time high is another condition. LAPTOP surpassing TRUMP’s market cap is also a factor.
If these conditions do not happen, they will donate some tokens to charity.
President Joe Biden’s son hints at launch
Hunter Biden appeared to confirm the report on X. His post read “$LAPTOP. September 9.” This hinted at the ticker name and launch date.
Biden has previously called out President Trump for corruption. Last month he said, “The Trump family’s business, World Liberty Financial, is corruption at a scale we’ve never seen.” He highlighted how the crypto project seized Justin Sun’s investment. The team also used their tokens as collateral.
Crypto community reacts
The report has drawn strong reactions from many. Bloomberg analyst Eric Balchunas commented on the situation. “Fighting rugging w more rugging? How does that work out mathematically?” he said. He was referring to how LAPTOP is supposedly a dig at the TRUMP meme coin.