WASHINGTON, United States: Hunter Biden LAPTOP coin is scheduled to launch September 9 on Base, the blockchain network developed by Coinbase.
According to The Wall Street Journal, the meme coin will trade under the ticker $LAPTOP and have a total supply of one billion tokens. Founders, including Hunter Biden, are expected to hold 30% under a vesting schedule.
The token takes its name from the laptop controversy involving Biden that became a major political issue during the 2020 US presidential election. The project also references President Donald Trump’s cryptocurrency ventures.
According to The Wall Street Journal, 20% of the token supply is planned for people who lost money on Trump-linked $TRUMP tokens. Another 20% is earmarked for charitable and operational purposes.
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As much as 30% of the supply could eventually be burned if specified events occur, according to the newspaper. The founding team’s 30% allocation will remain subject to vesting restrictions.
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The $LAPTOP launch would place Biden in the expanding market for political meme coins. Such tokens generally lack underlying cash flows or intrinsic value and can experience large price swings after launch.
