Crypto Traders Slam Hunter Biden's Memecoin Before Launch
Crypto traders are expressing their disapproval of Hunter Biden's upcoming memecoin launch. The token, called LAPTOP, is set to deploy on Base, a network built by Coinbase, with a supply of one billion. Founders, including Biden, will hold 30% of the tokens, locked for six months and released over more than two years.
An additional 20% of the tokens will be distributed through two airdrops. The first group to receive these airdrops are wallets that held losses from TRUMP, a memecoin launched by Donald Trump days before his inauguration in 2025.
Biden's Substack subscribers and a mailing list run by video journalist Andrew Callaghan will also receive tokens. However, the response to the launch has been overwhelmingly negative, with several prominent traders calling it an embarrassment.