Key facts
- Hunter Biden is launching a meme coin named 'LAPTOP' on September 9.
- The coin will be deployed on Coinbase's Ethereum layer-2 network, Base.
- 20% of the supply will be airdropped to holders of the 'TRUMP' meme coin who experienced losses.
- Founders, including Biden, will retain 30% of the total 1 billion token supply.
Hunter Biden has officially entered the cryptocurrency space with the launch of his meme coin, 'LAPTOP,' set to debut on Wednesday on the Base network. The coin's strategy includes a significant airdrop, dedicating 20% of its total supply to holders of the 'TRUMP' meme coin, particularly those who have incurred losses. This move aims to capitalize on the attention generated by the 'TRUMP' coin, which experienced a substantial market cap increase before a significant decline.
The announcement has sparked considerable discussion and mixed reactions within the crypto community. While Hunter Biden's post garnered millions of views, much of the sentiment has leaned towards mockery and criticism, with some users accusing him of hypocrisy given past criticisms of Donald Trump's crypto ventures. The 'TRUMP' meme coin, launched in 2025, has seen its value drop by over 90% since its inception.
Skepticism also surrounds the timing and mechanics of the 'LAPTOP' launch. Concerns have been raised about potential 'snipers' and bots exploiting early information, as well as the proliferation of copycat tokens. The decision to launch on the Base network has also drawn commentary, with some traders questioning the network's strategy in prioritizing celebrity-adjacent meme coins over projects with broader builder support.
Hunter Biden's personal financial situation, including significant debt and a recent conviction on tax and gun charges, has been cited by some as a motivation for the venture. He has publicly stated his interest in crypto is driven by both the technology and a desire to generate income, directly referencing his legal expenses. This context fuels speculation that the meme coin launch is primarily a financial endeavor.
Historically, political and celebrity-endorsed meme coins have seen initial pumps, as evidenced by the rapid rise and subsequent crash of coins like Libra and Hawk Tuah. However, the long-term viability and sustainability of such tokens are often questioned, with many ultimately failing due to developer control or market manipulation, a phenomenon often described as a 'rug pull in the works.'