Hunter Biden said on Tuesday that his official memecoin symbolizes “resilience and redemption” and is meant to compensate users who lost money on the Official Trump (CRYPTO: TRUMP) token.
Biden Converting Infamous Laptop Into a Token
Hunter Biden confirmed in an X post that he is launching LAPTOP coin, referencing the controversy surrounding his personal laptop recovered in 2020. The laptop contained messages detailing his foreign business transactions and explicit photos,
“The symbol they used to try to end me is now a symbol of resilience, redemption, and recovery,” said the son of former President Joe Biden. “They turned laptop into a weapon. I turned it into a token.”
What’s the Purpose of LAPTOP?
Biden said he understands the “cynicism” around memecoins, noting that holders of President Donald Trump’s official token have lost a combined $3.81 billion.
“Trump has broken trust in everything he’s ever touched. And his token was no exception,’ he added.
Hunter Biden said that 20% of LAPTOP would be airdropped to the community, including people who lost money on the “TRUMP grift.”
In addition, 30% of the total supply is allocated to a pre-programmed burn mechanism triggered by specific world events, while a further 50 million tokens are set aside for charity allocations.
Hunter Biden urged people not to expect him to make the token more valuable for them, adding, “LAPTOP isn’t just about owning something; it’s about saying something.”
‘Do Not Buy It’
Meanwhile, on-chain detective Stephen Findeisen, better known as “Coffeezilla,” criticized Hunter Biden for launching a memecoin and advised against buying it.
LAPTOP set to debut on Wednesday on Base, a Layer 2 blockchain developed by Coinbase Global Inc. (NASDAQ:COIN),
Lately, Hunter Biden has shown growing interest in cryptocurrency, accepting Bitcoin for his artwork and issuing blockchain-based certificates of authenticity.
Photo Courtesy: Andrew Leyden on Shutterstock.com
