Hunter Biden confirmed on Monday that he is launching a memecoin called LAPTOP, posting the ticker and a Sept. 9 launch date on X alongside a mashup clip about the computer whose contents leaked before the 2020 election, which he had taken to a repair shop in Delaware the year before. The post went up after The Wall Street Journal first reported that the token was coming.

The coin will deploy on Base, Coinbase’s layer 2 network, and its distribution is built around President Donald Trump’s memecoin. Twenty percent of the 1 billion supply is set aside for airdrops across two rounds, with wallets that lost money on TRUMP among the intended recipients, along with subscribers to Biden’s Substack and the mailing list of video journalist Andrew Callaghan, according to WSJ.

How the Supply Splits

Founders, Biden included, control 300 million tokens. None can move for six months, and the rest unwinds across two years. Another 200 million pays for market-making, exchange listings and lawyers. As much as a third of the supply is queued for destruction against a checklist: a Democratic win in 2028, a bitcoin record, or LAPTOP worth more than TRUMP.

TRUMP reached an all-time high of $73.43 on Jan. 19, 2025, and traded at $2.25 on Monday for a market cap near $613 million, according to CoinGecko. About two-thirds of the 1.48 million wallets that had bought it were underwater by July, carrying combined losses of $3.81 billion, blockchain analytics firm Nansen found.

Traders Front-Run the Launch

The token does not exist yet and its name is already trading. Dozens of copycat tokens have appeared across Base, Robinhood Chain and Solana following the WSJ report and Biden’s post, the largest of which has a market cap of $1.3 million, according to DEX Screener data. The news has also lifted several older memecoins inspired by the controversy. For example, a Solana token launched nearly three years ago has surged as much as 500%.

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