Hunter Biden’s planned LAPTOP memecoin launch is already facing heavy criticism from crypto traders, even before the token goes live on Wednesday.
The token is scheduled to launch on Base, Coinbase’s Ethereum layer-2 network, with a total supply of 1 billion coins. Biden and the other founders are allocated 30% of the supply. Their tokens will remain locked for six months and then be released gradually over a period exceeding two years.
Another 20% will be distributed through two planned airdrops. The first group eligible for the distribution will be wallets holding TRUMP tokens at a loss. Donald Trump launched the TRUMP memecoin shortly before his 2025 inauguration.
LAPTOP also plans to distribute tokens to Biden’s Substack subscribers and members of a mailing list operated by video journalist Andrew Callaghan.
The Wall Street Journal initially reported on the project, while Biden confirmed the plans Monday on X. His announcement included the token ticker and a montage of news coverage surrounding the laptop he left at a Delaware repair shop in 2019.
The launch has also prompted Base to clarify that providing infrastructure for LAPTOP does not mean the network or Coinbase endorses the project.
Jordan Fish, better known as Cobie and head of Coinbase’s Base app team, pushed back after traders criticized Base over the token. He explained that Base is permissionless, meaning anyone can deploy a token without approval from Coinbase. He also said LAPTOP has no partnership with either Base or Coinbase.
Base founder Jesse Pollak said the LAPTOP team contacted the network before launch. However, Base made a deliberate decision not to participate in the token’s development or marketing, citing the political complexity surrounding the project.
Pollak reiterated on X that Base welcomes anyone who wants to build on the network.
From laptop controversy to memecoin
The LAPTOP token takes its name from the long-running controversy surrounding Hunter Biden’s laptop.
The device was reportedly left at a Delaware repair shop in 2019. Data said to have been recovered from it included emails concerning Biden’s overseas business activities as well as highly personal photographs, messages and videos involving drug use and his private life. The material became a major political flashpoint around the 2020 U.S. presidential election.
The laptop controversy also inspired thousands of internet memes. Years later, Biden is attempting to turn that online notoriety into a cryptocurrency.
The response from crypto traders has been particularly harsh.
Pseudonymous DeFi developer scupytrooples directly urged Biden to reconsider the launch while he still had an opportunity to cancel it. Trader DonAlt called the move an embarrassment, saying Biden had finally received a platform only to use it for a memecoin. Pseudonymous crypto investor Byzantine General likewise told Biden not to return to the industry.
The criticism also affected companies involved in promoting the token.
Crypto exchange Kraken removed a post advertising LAPTOP after users questioned why one of the industry’s biggest exchanges was promoting another politically associated memecoin.
Kraken has not confirmed that it has abandoned any potential plans to list LAPTOP. The token’s website says information about exchange listings will be released once trading begins.
Andrew Callaghan has also separated himself from the project. He said neither he nor his Channel 5 program had any involvement with LAPTOP, despite a Channel 5 mailing list being included among the groups eligible for the proposed airdrop.
Callaghan told the Wall Street Journal that Channel 5 does not regard crypto as a legitimate investment.
Still, some crypto platforms continue to promote the token. Pump.fun was advertising LAPTOP on Tuesday, while copycat tokens with the same name were also trading on the platform during Asian morning hours.
That activity suggests the controversy surrounding LAPTOP may still be enough to attract speculative interest, despite the negative reaction from parts of the crypto community.
CoinDesk contacted Coinbase for further clarification about Base’s relationship with LAPTOP and reached out to Kraken regarding its deleted promotional post.
An update dated Sept. 8 at 13:34 UTC replaced the article’s original lead image with a photograph of Hunter Biden.
