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BTC 
ETH Biden's new memecoin has not yet been released, and traders have chased millions of dollars for the same name token
Although Hunter Biden's new memecoin is scheduled to be officially launched on Wednesday, traders have spent millions of dollars chasing tokens with the same name. According to the Wall Street Journal, Biden plans to launch a token called "LAPTOP" on the Base network built by Coinbase on September 9. The token's name comes from a computer that was the focus of political controversy before the 2020 U.S. election.
The project will issue 1 billion tokens, 30% of which will be allocated to Biden and other founders. The founder's ownership will be locked for six months in the initial phase, and then gradually released over two years.
A large number of transactions have occurred before the official release
However, a problem has arisen: before the official release, counterfeit tokens called "LAPTOP" have appeared on the market for trading. "Defiant" media first discovered the first new LAPTOP token on Robinhood Chain, when news about Biden's issuance began to circulate. In the next 53 minutes, 22 more mobility pools appeared on Robinhood Chain, Solana, TON and BNB Chain. As of 15:45 UTC, the total transaction volume of these tokens has reached approximately US$6.9 million.
In one version on Robinhood Chain alone, more than $54,300 in transaction volume was generated, involving more than 31,000 transactions. None of these tokens have been confirmed as an official release on the Base network on September 9. In addition, the confusion has further intensified: as early as June 27, a token called LAPTOP was already traded on the Base network; another Solana token,"Hunter Biden's Laptop", unrelated to the case, existed as early as 2024. This makes the final official contract address particularly important for traders trying to distinguish the Biden project from other unrelated tokens.
LAPTOP specifically targets loss-making holders of TRUMP tokens
The strangest part of the token economic model is the airdrop plan directly tied to Donald Trump's memein. Up to 20% of LAPTOP's supply will be distributed among multiple groups, including wallet addresses that have lost money trading TRUMP tokens, Biden Substack subscribers and mailing lists associated with journalist Andrew Callaghan.
This strategy has a large number of potential recipients. TRUMP tokens are currently trading at approximately US$2.25, down approximately 97% from the January 2025 peak of US$73.43. Previous analysis found that approximately 1.48 million wallets that purchased TRUMP tokens were at unrealized losses, although one investor may control multiple wallets.
LAPTOP Token Economy Model Details
If 30 predetermined political and market events occur, another 30% of supply may be destroyed. Reported triggers include Democrats winning the 2028 presidential election, Bitcoin hitting a new high, and LAPTOP's market value surpassing TRUMP. Tokens that fail to meet the conditions may be donated instead to charity.
Circular regression of political memoin
LAPTOP actually reverses political memoin transactions against Trump. TRUMP tokens were launched in January 2025 and briefly reached a market value of nearly US$15 billion before crashing. Detailed analysis shows that centralized ownership and political branding shaped the nature of the token from the beginning. The project was later reviewed over holder incidents and political access issues, and the broader debate on cryptocurrency ethics also attracted the attention of Congress.
LAPTOP now borrows the exact same political token operating manual and includes loss-holders of TRUMP in its distribution strategy. Of course, there is no guarantee that these holders will recover any value. LAPTOP has not yet been released, there is no established market price, and its final value depends almost entirely on market demand after September 9.
