Hunter Biden said he built his LAPTOP memecoin with the “opposite tokenomics” of the Trump family’s memecoins “to show that you can do this the right way.” He said insiders get 30% of LAPTOP’s supply, compared with what he described as 80% for the Trump tokens, and that half goes to the community.
“Look at the blockchain. All you have to do to see if it was a scam on my part is look,” Biden said on the Unchained Podcast on Wednesday.
The founder tokens “have never moved and are not going to move,” he added, and “not a single dollar has come out of the foundation into the pockets of any of the insiders.” The only insiders, according to Biden, are himself and two other Americans.
Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter.
The Founder Allocation
Two Base wallets were each funded with 300 million LAPTOP before launch, according to Base blockchain data reviewed by Unchained.
That matches two allocations in the project’s disclosures: the founders’ share and a predictions pool whose tokens are burned when certain real-world predictions come true. Unchained could not confirm which wallet holds which allocation or who controls them. One has not moved any tokens.
The other has sent 17.5 million tokens, or 1.75% of supply, to a burn address. Founder tokens are locked for six months after launch and then vest monthly over 24 months, according to the disclosures.
The Launch-Day Spike
LAPTOP fell more than 99% from its Sept. 9 launch-day peak on Base, as Unchained reported. The token traded near $0.079 on Wednesday, above its planned $0.05 launch price.
Biden said one of the token’s three market makers, which he could not name because of confidentiality, but which are named in the website’s disclosures as G20, GSR and Wintermute, made “a major error” by seeding the launch pool with about 29,000 tokens instead of 5 million. In his account, the token jumped from a $50 million fully diluted valuation to a $317 billion market cap within a minute. He called that figure “pure fiction” and said the firm has since admitted the mistake internally.
Biden took responsibility for the launch “regardless of whether it was a market maker’s fault or not.” What he should have done, he said, is explain LAPTOP more before launch, so skeptics would know it did not begin with someone asking him, “Hey, can we slap your name on something and see what happens?”
Instead, by his account, he spent “an enormous amount of time” trying to “learn the community, but also learn the technology.”
Related Listen: The Chopping Block: FOMO’s Co-Founder Defends the Memecoin Trenches, Hunter Biden’s $LAPTOP, and AMC vs Robinhood
