Hunter Biden Unveils Memecoin LAPTOP Amid Crypto Market Volatility
Former US President Joe Biden's son Hunter is launching his own memecoin called LAPTOP, which will be listed on the Ethereum Layer-2 network Base on September 9th. The token's name and concept are a nod to the controversy surrounding Hunter's laptop in 2020, which contained leaked messages about his business dealings and personal life.
Hunter Biden has been increasing his visibility in recent weeks, appearing on podcasts and television programs to promote cryptocurrency and its potential future growth. In fact, he recently described decentralized digital currencies as 'the inevitable future' on social media platform X.
The LAPTOP token will have a total supply of 1 billion, with the founders retaining 30% of the tokens for at least six months and two years of vesting. The remaining 70% will be distributed to select users in two separate allocations: 20% to investors who lost money on Donald Trump's TRUMP memecoin, Hunter Biden's Substack subscribers, and members of a video journalist's email list.
The token's burning mechanism is tied to specific political and financial events, such as the Democratic Party candidate winning the 2028 US presidential election or Bitcoin reaching a new all-time high. If these scenarios occur, up to 30% of the total supply could be burned; otherwise, a proportional portion will be donated to charity.