Joe Biden’s son to launch memecoin, will send to TRUMP holders: WSJ
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Hunter Biden, son of former US President Joe Biden, announced plans to launch a memecoin called $LAPTOP, inspired by his infamous laptop. According to the Wall Street Journal, 20% of the one-billion token supply will be distributed to substack subscribers, mailing list members, and holders of the Trump memecoin, Official Trump (TRUMP). The launch is set for Wednesday, following Biden's announcement on X.
Why it matters
The $LAPTOP memecoin launch could increase attention on former President Donald Trump’s crypto ventures, particularly as lawmakers are preparing to vote on the Digital Asset Market Clarity Act aimed at regulating the digital asset industry. The development arrives amid Hunter Biden's heightened involvement and commentary on crypto and blockchain following his father’s presidency.
Key context
The laptop referenced by the memecoin’s name was central to media scrutiny and two privacy lawsuits involving Hunter Biden before the 2020 election. Hunter Biden has publicly criticized the Trump family’s crypto-related business, World Liberty Financial, citing corruption allegations and alleged ties to foreign governments. The $LAPTOP founders hold 30% of the tokens and plan to burn up to 30% based on certain political and market conditions.
Key numbers and entities
Hunter Biden, Joe Biden, Donald Trump, Official Trump (TRUMP) memecoin, ticker $LAPTOP, one-billion token supply, 20% allocation to certain holders, 30% token holdings by founders, Digital Asset Market Clarity Act (CLARITY Act) Senate vote on September 15. TRUMP memecoin’s value reportedly dropped about 97% since its January 2025 all-time high.
What remains unclear
Details about the full functionality, technical infrastructure, or governance of $LAPTOP are not provided. The response of the White House to the launch was not available. The specific mechanics and timeline for the planned token burns remain only broadly outlined.