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TRUMP Core Highlights
Hunter Biden is scheduled to launch Memecoin called LAPTOP on the Base Layer 2 network on Wednesday.
One-fifth of the total supply of 1 billion tokens will be distributed through airdrops, giving priority to addresses that have suffered losses in TRUMP tokens. Another 30% of the total supply is linked to 30 political forecasts: if the forecast is accurate, the relevant tokens will be destroyed; if the forecast is wrong, targeted donations will be made to charity.
Cryptocurrency exchange Kraken withdrew its promotional tweet after criticism from the community, while the creator of the Base network clarified that the project party had no official partnership with the initiative.
Biden condemned the TRUMP token, pointing out that it caused cumulative losses of US$3.8 billion to approximately 1 million wallet addresses.
Project Background
Hunter Biden is preparing to launch a cryptocurrency called LAPTOP on Wednesday, named after the laptop that sparked one of the biggest political scandals in recent U.S. history.
Biden announced the coin through social media platform X, defining it as a symbol of "resilience, redemption and recovery." He positioned the move as regaining a narrative that had been weaponized by opponents over multiple electoral cycles.
"They used a 'laptop' as a weapon to attack me, and now I'm going to convert it into currency." Biden said,"For years, Trump and his right-wing media have been asking: 'Where is Hunter? Where is Hunter?' Now I'm here. I remain sober and determined. I have been sober for seven years and have a lot to say."
Token Allocation Details
The total supply of LAPTOP tokens is 1 billion. 20% of this is earmarked for community airdrop distribution. When the project is first launched, a 10% share will be available through a collection platform operated by the Phoenix Veritas Foundation, which oversees the token. The remaining 10% will be allocated at a future date determined by the foundation.
Two specific groups of people are eligible for airdrops:
- Investors who suffer financial losses in Donald Trump's TRUMP memecoin investments receive 2% of the total supply.
- Subscribe to Biden's personal publication "Where's Hunter?" Users are entitled to 8%.
Biden directly attacked the TRUMP token, claiming it caused a collective loss of $3.8 billion from nearly 1 million wallet addresses, and described the project as a "Grift."
Another 30% of LAPTOP's supply is directly linked to 30 political forecasts based on real events, many of which are linked to prediction markets on Polymarket. When a prediction is confirmed to be accurate, the associated tokens will be permanently destroyed; if the prediction is wrong, the tokens will be transferred to charity organizations. In addition, an additional 50 million coins are dedicated to charity independently of the forecast results.
Reaction of the crypto community
The release of the token caused huge controversy. Kraken, a large cryptocurrency trading platform, withdrew a promotion message after facing strong opposition from the trading community.
Video content creator Andrew Callaghan, whose fan base was originally one of the targets of the airdrop, publicly stated that he was distancing himself from the plan.
Jesse Pollak, the architect of the Base network-Base is a blockchain developed by Coinbase and on which LAPTOP was released-said his team made a "conscious decision" to avoid participating in the design or marketing of the token. He emphasized that Base has no partnership with the project.
Lock-up mechanism and market positioning
Project founders, including Biden himself, will control 30% of the supply, which is subject to a six-month lock-in period and will then enter a 24-month phased release phase. Another 10% is allocated to provide liquidity and 5% supports the foundation's operating treasury.
Biden made clear that buyers should not expect anyone to be committed to increasing the market value of the token. "LAPTOP is not just about having something, it's about expressing a certain position." He explained.
The laptop at the heart of the controversy was first made public in 2019, when Biden left it behind in a computer repair shop in Delaware. The device's content later became key evidence in its 2024 federal gun conviction.
