Base and Kraken Distance Themselves From Hunter Biden’s $LAPTOP Memecoin
Key Takeaways
- Hunter Biden plans to launch LAPTOP, a one-billion-token memecoin on Coinbase's Base network, with founders receiving 30% and another 20% for airdrops.
- Kraken deleted a promotional post for LAPTOP after traders criticized the launch, though the exchange has not confirmed whether it will still list the token.
- Base and Coinbase executives distanced themselves from the project, stating that Base is permissionless and no partnership exists with the token team.
- Wallets that lost money on President Trump's TRUMP token are first in line for the LAPTOP airdrop, along with Hunter Biden's Substack subscribers and a mailing list from Andrew Callaghan.
- The launch has drawn sharp criticism from prominent crypto traders, including pseudonymous figures like DonAlt and Byzantine General, who called it an embarrassment and urged Biden to cancel.
Hunter Biden is set to launch a memecoin called LAPTOP on Wednesday, but the crypto community is already pushing back hard. The token, which will be deployed on Coinbase’s Base network, has sparked criticism from traders, prompting Kraken to delete a promotional post and several public figures to distance themselves from the project.
The LAPTOP Token Structure
The LAPTOP token will have a total supply of one billion tokens. The founding team, which includes Hunter Biden, will receive 30% of the supply, locked for six months and then vested over a period of more than two years.
Another 20% is designated for two airdrops. The first group eligible for the airdrop includes wallets that suffered losses from TRUMP, the memecoin launched by President Donald Trump before his 2025 inauguration.
Additionally, Hunter Biden’s Substack subscribers and a mailing list run by video journalist Andrew Callaghan are also set to receive tokens. The token’s name references the infamous laptop that Biden left at a Delaware repair shop in 2019, which became a major talking point during the 2020 election campaign.
Base and Coinbase Distancing Themselves
In response to the announcement, Base—the network where LAPTOP will be launched—has spent the past day clarifying that it is not endorsing the project. Jordan Fish, known as Cobie and head of Coinbase’s Base app team, pushed back against traders who blamed Base for facilitating the token’s launch. He emphasized that anyone can deploy a token on Base without Coinbase approval and stressed that there is no partnership between LAPTOP and Coinbase or Base.
Jesse Pollak, founder of Base, also commented on the situation. He said the LAPTOP team had reached out before the launch, but Base made a “conscious decision” not to assist with the token’s design or promotion.
Pollak cited the complexity of politics and stated that Base did not feel it was appropriate to influence the outcome. “Base is permissionless and we welcome anyone to build on it,” he wrote on X.
Community Backlash
The crypto community’s reaction has been unusually blunt. Pseudonymous DeFi developer scupytrooples responded directly to Biden’s announcement with a pointed message: “Dude, f*ck you.
Still time to walk this back.” Prominent trader DonAlt called the launch an “utter embarrassment,” writing that Biden had “finally been handed a platform” and used it for a memecoin. Another pseudonymous investor, Byzantine General, told him “never to come back.”
The negative sentiment has also prompted businesses to reconsider their promotions. Kraken deleted a promotional post about LAPTOP after traders flooded the replies, questioning why a major exchange would advertise another political memecoin. Kraken has not confirmed whether it still plans to list the token. The token’s website states that exchange listings will be announced when trading begins.
Public Figures Step Back
Andrew Callaghan, whose Channel 5 mailing list was included in the airdrop plan, publicly stated that neither he nor his program has any connection to the coin. He told The Wall Street Journal that Channel 5 does not consider crypto a legitimate investment.
Despite the distancing, not everyone has pulled away. The token issuance platform Pump.fun was still advertising LAPTOP on Tuesday, and copycat tokens using the same name were trading on the platform as of Asian morning hours.
Political Memecoins and Market Dynamics
This development highlights the growing trend of political figures launching memecoins, often with polarizing effects. While some view these tokens as a form of engagement or financial opportunity, others see them as speculative and potentially harmful to the crypto ecosystem’s reputation. The backlash against LAPTOP demonstrates that community sentiment can quickly shift, affecting promotional efforts and public perception.
As of now, Coinbase has not provided further comment on Base’s relationship with LAPTOP. Kraken has also remained silent regarding its deleted post. The launch is scheduled for Wednesday, and all eyes will be on how the market reacts once trading begins.
DISCLAIMER
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments involve substantial risk and extreme volatility - never invest money you cannot afford to lose completely. The author may hold positions in the cryptocurrencies mentioned, which could bias the presented information. Always conduct your own research and consider consulting a qualified financial advisor before making any investment decisions.
About Alex Carter-Knight
Alex Carter-Knight is a veteran crypto trader, former Ethereum miner, and market analyst with 8+ years in the space. He breaks down institutional flows, on-chain data, and macro trends with clarity and edge.
“I don’t chase pumps. I chase logic.”
