$LAPTOP Meme Coin Launched as Trump's Crypto Venture Hits New Lows
Hunter Biden is launching his own meme cryptocurrency, $LAPTOP, which pokes fun at the infamous laptop scandal from 2020. The coin will debut on Coinbase's Base blockchain network on Wednesday.
The launch comes as President Donald Trump's own crypto venture, $TRUMP, has seen a significant slump in value, trading at $2.28 compared to its peak of $73.43 in February 2024. Nearly 1 million retail traders lost an estimated $3.8 billion by backing the token.
Biden's coin will have a total supply of one billion coins, with 20 percent allocated to investors who lost money on $TRUMP, as well as subscribers to his Substack newsletter and those included on a mailing list compiled by his friend Andrew Callaghan. The remaining 30 percent will be 'burned' if certain conditions are met within two years.
The conditions include a Democrat winning the 2028 presidential election, Bitcoin reaching another all-time high, and $LAPTOP's fully-diluted value exceeding that of $TRUMP's. Biden has reportedly retained a third of the coin's supply with his co-founders, which they will not be allowed to sell for six months.