$LAPTOP Launch Sparks Backlash as Hunter Biden Criticizes Trump's Grift
Hunter Biden is launching his $LAPTOP memecoin on Wednesday, which he claims will allow him to reclaim the notoriety of the laptop scandal that followed him for years. In a post on X, Biden criticized Donald Trump's $TRUMP token, saying it was a 'grift' that had left nearly one million wallets with a combined $3.8 billion in losses.
The $LAPTOP token will distribute 20% of its supply through community airdrops, including to wallets that lost money holding $TRUMP. Another 30% is tied to a set of political, crypto and cultural predictions, with tokens linked to outcomes that come true being burned, and those tied to failed predictions going to charity.
Biden emphasized that he and others involved in the project will not be making efforts to increase the token's value, saying 'You should not expect me or anyone else to make this token more valuable for you. $LAPTOP isn’t just about owning something, it’s about saying something.'
The launch of $LAPTOP has been met with hostility from some in the crypto community, with Kraken deleting a promotional post and Andrew Callaghan distancing himself from the project after his audience was included in a planned token distribution.