Hunter Biden launches "laptop" meme coin to airdrop tokens to Trump token victims

Core Highlights

Token allocation details

Market reaction

Hunter Biden launched a memin called LAPTOP on the Base two-layer network blockchain on Wednesday. The project will distribute one-fifth of the total supply of 1 billion tokens through airdrops, mainly to investors who have suffered losses in the TRUMP Memin project. Among them, 30% of the token allocation is linked to predictions of 30 political events, and based on the predictions, the relevant tokens will be destroyed or transferred to charity.

After criticism from the community, cryptocurrency exchange Kraken withdrew relevant promotional materials; and the creator of the Base network clarified that there was no official partnership between the two parties.

Biden has previously criticized TRUMP memein, pointing out that the token has caused cumulative losses of US$3.8 billion to nearly 1 million wallet address holders.

Project background and release statement

Biden is scheduled to launch a cryptocurrency called LAPTOP on Wednesday, which is inspired by the laptop that has caused major political turmoil in recent years.

Biden posted the digital asset on social media platform X, describing it as a symbol of "resilience, redemption and recovery." He positioned the move as a way to regain control of a controversial topic that had been used to attack him.

Biden said: "They used that laptop to weaponize me, and I have turned it into a digital asset."

Over the years, Trump and the right-wing media have been asking: "Where is Biden? Where is Hunter Biden?" Today, he responds: "I am here. I am sober, determined, I have been sober for seven years, and I have a lot to say."

He pointed out that readers may have seen an article published in the Wall Street Journal announcing that he is launching a memecoin called $LAPTOP.

Token Allocation Mechanism Details

The total supply of LAPTOP tokens is 1 billion. Community airdrops account for 20% of the total. When Contemporary Coin is officially launched, 10% of the shares can be collected through a portal operated by the Phoenix Veritas Foundation (managed entity). The foundation will distribute the remaining 10% at a later time based on its own schedule.

Airdrop eligibility covers two specific groups: investors who suffer financial losses in Donald Trump's TRUMP memecoin receive 2% of the total supply; and subscriptions to Biden's title "Where's Hunter?" (Where is Hunter Biden?) Users of newsletter briefings can receive 8%.

Biden directly criticized the TRUMP token, emphasizing that approximately 1 million wallet address holders had lost a cumulative amount of US$3.8 billion on the project and characterized the project as a "scam."

Another 30% of LAPTOP's supply is linked to 30 political events occurring in the real world, many of which rely on the Polymarket prediction platform. When a predicted event occurs, the associated tokens will be permanently destroyed from circulation; if the prediction fails, the corresponding tokens will be transferred to charity. In addition, an additional 50 million tokens were unconditionally earmarked for charitable donations.

Market response and team commitment

The project has encountered resistance from many parties in the industry. Kraken, a well-known cryptocurrency trading platform, withdrew relevant promotional information after receiving negative feedback from the trading community.

Video journalist Andrew Callaghan received airdrop shares because his fans had planned, but he publicly distanced himself from the venture.

Jesse Pollak, founder of the Base Network-Base is a blockchain developed by Coinbase that carries the LAPTOP token-said his organization "consciously decided" not to participate in the design or marketing of the token. He emphasized that there is no partnership between Base and the project.

The founding team, including Biden, will receive 30% of the supply of tokens with a six-month lock-up period followed by a 24-month phased release period. Liquidity reserves account for 10%, and foundation treasury reserves 5% for operating expenses.

Biden made clear that buyers should not expect anyone to be committed to driving up the market value of the token. "LAPTOP is not just about having something, it's about expressing a position," he explained.

Historical origins

The laptop at the core of the project made its public debut in 2019, when Biden left it behind at a repair shop in Delaware. The content subsequently recovered from the device became evidence in his 2024 federal gun conviction case.