Wall Street · CA Daily Wire
Hunter Biden has announced he is launching a new cryptocurrency called $LAPTOP, a meme coin poking fun at his infamous laptop scandal from 2020 and President Donald Trump’s crypto ventures. The son of former President Joe Biden, 56, promoted the coin on X with a teaser video featuring conservative broadcasters and Republican lawmakers referencing the scandal. The leaked emails from the laptop, left in a Delaware shop for repair, revealed discussions about foreign business dealings and personal photos of his past drug use, sparking conspiracy theories and jokes on social media.
The Wall Street Journal reports that $LAPTOP will debut on Coinbase’s Base blockchain network on Wednesday, the same day Trump is holding his midterms convention in Dallas, Texas. One billion coins will be supplied over two years, with 20% allocated to those who lost money in Trump’s $TRUMP coin, Biden’s Substack subscribers, and a mailing list compiled by his friend Andrew Callaghan. Biden and co-founders retain a third of the coins, which they cannot sell for the first six months. An additional 20% will go to charity or cover costs, while the remaining 30% will be ‘burned’ under 30 scenarios—such as a Democrat winning the 2028 election or Bitcoin reaching a new all-time high—making the coins scarcer and increasing their value.
Biden’s coin is a direct critique of Trump’s $TRUMP, which has seen a near-97% drop from its peak valuation of $73.43 to $2.28. The Senate Permanent Subcommittee on Investigations found nearly 1 million retail traders lost up to $3.8 billion backing $TRUMP. Meanwhile, Trump, who once called crypto a ‘scam,’ has pivoted to supporting the industry, pushing for crypto-friendly regulations, signing stablecoin legislation, and pardoning key figures like Binance founder Changpeng Zhao. His $1.4 billion crypto earnings in 2024 have sparked conflict-of-interest concerns, despite the White House denying such allegations.
Biden, who joined social media earlier this year to discuss his recovery from addiction and share paintings, also commented on Trump’s business ventures, including a wry assessment of the Trump family’s ventures and a challenge to Donald Trump Jr. and Eric Trump to a cage match.
Source: The Independent
