Hunter Biden defends LAPTOP memecoin, calls TRUMP a 'grift'

Hunter Biden is defending his LAPTOP memecoin, launching Wednesday on Coinbase's Base network, and called the TRUMP token a "grift." He says the token is about "resilience, redemption and recovery" and will distribute coins to nearly one million wallets that lost money on TRUMP.

The launch faces growing backlash: Kraken deleted a promotional post after criticism, and a media group named in the token's distribution publicly distanced itself. Reports say the supply structure burns nearly a third of coins if certain political outcomes occur, including a Democratic win in the 2028 election, and that 20% was allocated to investors who lost money on $TRUMP.

• No ticker, supply or burn thresholds have been disclosed.