Crypto traders are aggressively rejecting Hunter Biden’s upcoming memecoin, LAPTOP, before it even hits the market. The backlash forced major industry players like Kraken and Coinbase’s Base team to publicly distance themselves from the project, signaling a shift in sentiment toward politically charged tokens. With the launch scheduled for Wednesday, the token faces immediate headwinds despite high-profile backing and airdrop strategies targeting prior losses.
Market Context
The market remains wary of political memecoins following the performance of the TRUMP token, which launched shortly before Donald Trump’s 2025 inauguration. TRUMP briefly reached a market value of nearly $15 billion but now trades approximately 97% below its peak. This dramatic decline has left many retail traders with significant losses, creating a hostile environment for new political tokens. While appetite for speculation on attention remains, as evidenced by copycat tokens on Pump.fun, the institutional and prominent retail response to LAPTOP has been sharply negative.
Analysis
Hunter Biden plans to deploy LAPTOP on Base, the network built by Coinbase, with a total supply of one billion tokens. Founders, including Biden, will hold 30% of the supply, locked for six months and released over more than two years. Another 20% is allocated to airdrops, with the first tranche targeting wallets that incurred losses on the TRUMP token. Additional recipients include Biden’s Substack subscribers and a mailing list associated with journalist Andrew Callaghan. However, the strategy has drawn criticism from prominent traders. DonAlt called the launch an "utter embarrassment," while pseudonymous investor Byzantine General told Biden to "never to come back." DeFi developer scupytrooples posted, "Dude, f*ck you. Still time to walk this back," indicating a sentiment shift where the novelty of political finance has worn off.
Corporate entities associated with the ecosystem are also pulling back. Kraken deleted a promotional post for the token after traders questioned why a major exchange was advertising another political memecoin. Andrew Callaghan clarified that neither he nor his Channel 5 program are involved, despite the mailing list being eligible for airdrops. Jordan Fish, head of Coinbase’s Base app team, emphasized that anyone can deploy a token on Base without Coinbase approval and confirmed there is no partnership between LAPTOP and Coinbase or Base.
Key Numbers
- Total Supply: 1,000,000,000 (1 billion) tokens
- Founder Allocation: 30% (locked for 6 months, vested over 2+ years)
- Airdrop Allocation: 20% (targeting TRUMP loss holders, Substack subscribers, and Callaghan mailing list)
- TRUMP Peak Value: Nearly $15 billion
- TRUMP Current Performance: Trading ~97% below peak
- Launch Date: Wednesday (September 9, 2026)
- Network: Base (Coinbase’s Layer 2)
What to Watch
Traders should monitor the actual trading volume and price action on Wednesday to see if retail speculation overcomes the negative sentiment. While Kraken has not explicitly stated it has dropped plans to list LAPTOP, the deletion of its promotional material suggests a cautious approach. Pump.fun continues to advertise the token, and copycat tokens are already trading, indicating that the high-frequency trading crowd may still engage in volatility plays. Key levels will be determined by the initial airdrop distribution and whether the 30% founder lockup provides any perceived downside protection. The market will also watch for any further clarifications from Coinbase regarding the Base network's relationship with the token.