Hunter Biden, son of former US President Joe Biden, is preparing to enter the cryptocurrency market with his own Memecoin project. Inspired by the scandal surrounding "Hunter Biden's laptop," a token named "LAPTOP" will launch on September 9th on an Ethereum Layer-2 network developed by Coinbase.
According to sources close to the matter, the project references Hunter Biden's laptop, information about which leaked online in 2020 and became a subject of prolonged debate in American politics. The leaked messages from the computer, concerning Biden's overseas business dealings and personal life, remained at the center of political disputes for years.
Also noteworthy is Hunter Biden's increased media activity in recent weeks. Participating in podcasts, TV programs, and various shows, Biden has occasionally expressed positive opinions about the cryptocurrency sector. In recent posts on X, Biden called decentralized digital currencies "the inevitable future" and also commented on the dispute between the Trump family's World Liberty Financial project and Justin Sun.
Company Founders to Retain 30% of Total Token Supply.
The LAPTOP project plans to issue a total of 1 billion tokens. The founders, including Hunter Biden, will own 30% of the total supply. It is claimed that tokens allocated to the founders cannot be sold for the first six months, and the token distribution process will be completed within two years.
20% of the total supply is planned to be distributed to selected users in two separate stages. This group includes investors who lost money on Donald Trump's memecoin $TRUMP, subscribers to Hunter Biden's Substack, and participants in a mailing list created by video journalist Andrew Callaghan.
Launched in January 2025, Trump's $TRUMP token quickly reached a market capitalization of approximately $15 billion before sharply declining. It is reported that the token has recently been trading around $2, with its market value dropping to about $600 million.
One of the notable features of the LAPTOP project will be a token-burning mechanism tied to specific political and financial events. The founders state that if 30 predefined events occur within a certain period, up to 30% of the total token supply could be burned.
Scenarios that could trigger token burning include a Democratic Party candidate winning the US presidential election in 2028, Bitcoin reaching a new all-time high, and LAPTOP's fully diluted market capitalization exceeding that of the $TRUMP token.
If the predicted outcomes do not materialize, a proportional share of the tokens designated for burning will be donated to charity.
The remaining 20 percent of funds will be used for charitable purposes, liquidity provision, profit distribution to exchanges and market makers, as well as for the accounting, legal, administrative, and regulatory expenses of the foundation behind the project.
The launch of LAPTOP demonstrates the continuation of the memecoin trend in American politics. Tokens associated with Donald Trump, Melania Trump, and former New York Mayor Eric Adams previously experienced sharp price increases after their initial launch but soon significantly lost value. Due to a lack of intrinsic value and extreme volatility, memecoins are considered one of the riskiest categories in the cryptocurrency market.
This token also carries many similarly high risks, and users should exercise caution.
*This is not investment advice.
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