Biden's new memecoin crashes 92% in one day

Critics who claim that only Republican president Donald Trump is trying to cash in on memecoins have bad news: Hunter Biden, the son of the former Democratic president, began issuing his own memecoin, named $Laptop, yesterday.

Laptop

The son of former president Joe Biden launched a memecoin of his own yesterday, aimed squarely at his family’s arch-enemy, Donald Trump. He named the digital coin after the most notorious personal computer in American political history. Yes, his own laptop.

Biden’s token will trade under the ticker symbol $LAPTOP and was launched on Base, a digital platform developed by Coinbase Global, the largest crypto exchange in the United States.

The name of the digital coin is inspired by the sensation that erupted after Biden’s former computer surfaced in 2020. The contents of that device, ranging from messages about his foreign business dealings to nude photographs showing the president’s son using drugs, were eventually made public. The leaks went on to spawn an entire industry of investigations, conspiracy theories and digital media content.

Biden himself posted a short video on X featuring various media outlets referring to his laptop. In doing so, he hinted at the imminent launch of his memecoin.

Within hours of its launch, the coin was already trading around 92% lower.