Hunter Biden's Meme Coin Launch Stokes Crypto Skepticism

Hunter Biden is launching a meme coin called LAPTOP on the Base blockchain. The token will be launched on September 9, and it's expected to mint a supply of 1 billion tokens.

The founders, including Biden, will hold 30% of the supply, with 20% reserved for operational costs such as charity donations, liquidity provisioning, exchange partnerships, and legal and accounting expenses. Another 30% of the supply is linked to specific prediction market events, which would be burned if certain conditions are met.

The project has drawn skepticism from crypto researchers over its token structure. The day-one airdrop will go straight to Biden's Substack subscribers and Channel 5 subscribers, not TRUMP holders as previously circulated online. The issuer will retain 65% of the supply, with the foundation having autonomy on when milestone conditions are met.