Hunter Biden defends LAPTOP ahead of Wednesday launch, calls TRUMP a ‘grift’
Hunter Biden is defending his new cryptocurrency token, 'LAPTOP,' ahead of its launch, criticizing the 'TRUMP' token as a 'grift.' The LAPTOP token plans community airdrops and has allocations tied to political predictions, while major crypto platforms like Kraken and Base have distanced themselves from the project due to negative community reactions. Biden stated buyers should not expect him to make the token more valuable.
Why it matters
This article highlights the intersection of politics and cryptocurrency, the controversial nature of celebrity-backed tokens, and the potential for financial speculation and loss in the crypto market, raising questions about transparency and investor protection.
“I understand the cynicism,” Biden wrote in an X post in early Asian hours Wednesday. “Why something that has been so misused by grifters?”
He pointed to TRUMP, which has fallen sharply from its 2025 peak and left nearly one million wallets with a combined $3.8 billion in losses, according to figures cited by Biden. LAPTOP plans to distribute 20% of its supply through community airdrops, including to wallets that lost money holding TRUMP.
Another 30% of the token supply is tied to a set of political, crypto and cultural predictions. Tokens linked to outcomes that come true will be burned, while those tied to failed predictions will be sent to charity.
A separate 30% allocation goes to founders, including Biden, with those tokens subject to lockups and vesting, he said.
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