Biden’s Son Meme Coin LAPTOP: No Utility or Development Roadmap, Foundation Signs Loan Agreement with G20 and GSR
According to disclosures from the Phoenix Veritas Foundation, the Hunter Biden laptop-themed cultural token, LAPTOP, has been issued on the Base chain with a total supply of 1 billion tokens and an initial circulating supply of 350 million tokens (35%) at TGE. Token allocation consists of 30% for founders (including Hunter Biden), 30% for the prediction mechanism, 20% for the community airdrop, 10% for liquidity, 10% for the foundation treasury, and 5% for charity. Founder tokens are subject to a six-month lock-up period followed by linear unlocking over 24 months. LAPTOP provides no utility, positioned strictly as a cultural digital collectible with its value driven entirely by community sentiment. The token contract underwent a security audit by Hacken in April 2026, revealing no major vulnerabilities. Regarding market maker arrangements, the foundation has entered into a lending agreement with G20 and GSR totaling 20.5 million tokens.