"No car, no savings, and nothing but paintings" - A month after swearing in court to claim he is broke, Hunter Biden's token LAPTOP was launched.

Written by: Sanqing, Foresight News

On September 7, The Wall Street Journal first reported that Hunter Biden, son of former U.S. President Joe Biden, will launch the meme coin LAPTOP on Base on September 9. Four minutes later, he himself released a promotional video on X.

Public information shows that the official contract 0xB095274743941e953c746F9C228DA9c18Bb6ec29 was deployed on Base at the end of April, while the entity receiving project profits was registered on April 9. BaseScan indicates that the contract has only 10 holder addresses, with no token transfers yet, but has accumulated 69 transactions, with the last 25 all being approvals; according to GMGN's token page, there are also many unilateral liquidity addition operations.

The ritual of compliance, the true face of exemption

In April 2019, Hunter Biden sent a water-damaged MacBook Pro to a repair shop in Delaware and never retrieved it. The shop owner copied the hard drive, and the materials eventually reached Giuliani, who was then Trump's personal lawyer. On October 14, 2020, three weeks before the election day, The New York Post published a story based on this, including emails and numerous personal materials from his time working at the Ukrainian energy company Burisma, pointing to whether Joe Biden was involved in his son’s overseas business dealings.

Twitter (now X) immediately blocked the report's link and locked the newspaper's account. Five days later, 51 former intelligence officials signed a letter stating that this incident "bore all the classic hallmarks of a Russian information operation." In 2022, The New York Times and The Washington Post independently verified some of the emails and confirmed their authenticity, but allegations that Joe Biden engaged in illegal activities have not been substantiated; Hunter himself claimed he had no memory of sending the device for repair. This computer has since been a source of attack against the Biden family for six years and has appeared in the evidence chain of his 2024 gun case.

Looking back at the timeline, the team’s preparatory work began as early as six months prior: Phoenix Veritas Foundation was established in the Cayman Islands on March 23, and Phoenix Veritas Ventures Ltd was established in the British Virgin Islands on March 26; TTM Media Group LLC was registered in Wyoming on April 9; the domain laptoptoken.com was registered on April 23, with Hacken’s audit report dated the same day, and the contract went on-chain five days later; in June, LEI was issued and @Laptoptoken was created on X; on August 30, the MiCAR white paper was announced, and on September 3, terms of service and privacy policy were finalized; news was published on September 7, and it went live on September 9.

Furthermore, the domain was only purchased for one year. Additionally, the documents increasingly resembled a disclaimer. The disclosed documents state that LAPTOP "has no utility and no future utility plans"; the MiCA white paper is notification-based rather than approval-based and is marked on the homepage "not approved by any member state authority of the EU"; the registered capital of the company is $1, initial expenses are covered by a private loan of approximately $1.4 million, with no external investors.

30% of chips bet on national luck, using the election and impeachment prediction market as a gimmick

The distribution of the total supply of 1 billion coins is as follows: founding team 30%, predictive events 30%, first-day airdrop 10%, subsequent airdrop 10%, liquidity 10%, charity 5%, foundation treasury 5%. The last four items, totaling 35%, will all unlock on the day of TGE, corresponding to a circulating volume of 350 million coins on the first day, with 100 million of the subsequent airdrop distributed at the foundation's discretion.

Team shares will be locked for six months and then released linearly over 24 months, amounting to about 12.5 million coins entering circulation each month, which is equivalent to 3.6% of the first day's circulating volume; shares of predictive events will be locked for 12 months and will also be released over 24 months. A total of 65% of the supply is under long-term unlocking schedules.

That 30% is the core of the prediction market part: 30 binary outcome events, if realized by the deadline, the corresponding amount will be permanently destroyed, if not realized, it will be donated to charity; if all fail, as much as 35% of the total supply might end up going to 501(c) non-profit organizations. The four highest-weighted items refer to whether Trump will be impeached (3%), whether the Democratic Party can take both houses in 2026 and the White House in 2028.

Code leaks nothing, rights protection welded to the islands

BaseScan has verified the source code, with the contract named LaptopOFT, relying on LayerZero OFT and OpenZeppelin v5, the project's own code consists of only more than twenty lines: no buy/sell tax, no blacklist or whitelist, no limits, cooling or trading switches, paused() directly reverts, non-proxy, non-upgradeable.

There is also no external mint function, _mint is executed only once in the constructor, and it is restricted to block.chainid == 8453, allowing only Base to mint 1 billion coins, while other chains rely on LayerZero's burn-mint mechanism for cross-chain. Permissions are centralized in the owner. On-chain verifications show that this address is a 2/3 Gnosis Safe v1.4.1 multi-signature contract. It cannot move anyone's balance, with core retention permissions to invoke setPeer and other interfaces to configure legitimate cross-chain peers.

In the first day's 10% airdrop to retail investors, the shares were divided into three parts: 4% to Hunter Biden Substack subscribers, 4% to Andrew Callaghan's Channel 5 email list, and the remaining 2% allocated to TRUMP loss addresses. According to Nansen statistics, there are nearly 990,000 on-chain addresses that fit this loss label, but the final whitelist determination is left to the discretion of cooperating exchanges.

As for the secondary buy-in entrance, the official website's "Choose your way in" only renders "Coming soon," but the page's JS has hardcoded six venues: fomo, Coinbase, Aerodrome, Binance, OKX, Bitpanda. Meanwhile, the platforms listed in the MiCAR white paper include Coinbase, Bybit Europe, Uphold, Bitpanda, Bitvavo, and Kraken. Only two companies overlap between the two lists. The links pointed to are all general registration pages and do not equal agreement to be listed; the only confirmation by the platform is Aerodrome.

The real loophole is in the terms of service. It categorizes the events, odds, and token allocations displayed on the official website as "prediction market information," stating that it is "for reference and entertainment purposes only," does not constitute an offer, and does not create any rights to receive tokens; the "Event Resolution Standards" document states that in case of conflict, the terms take precedence.

The terms also state: For events without public betting, the company sets its own standards and has the final discretion in disputes; the total liability of the company and its affiliates is capped at $100; disputes must be submitted to the British Virgin Islands International Arbitration Centre for individual arbitration, and holders waive their right to trial by jury and class action; it disclaims any fiduciary duty.

An airdrop aimed at global retail investors has set the entry for disputes in the Caribbean.

The ultimate flow of funds reveals its bottom line at the end of the disclosure document: all project net profits after deducting daily expenses will be fully transferred to TTM Media Group LLC, controlled by the founding team. Records from the Wyoming Secretary of State show that this company was registered on April 9, with its actual operating location in San Francisco, and organizer Hervé Larren is among the other personnel involved in the project implementation in the white paper.

There are also two details worth paying attention to. The X account profile page shows that @HunterBiden was created in 2013, located in North America, with a verified mark; while the official project account @Laptoptoken was created in June this year, located in South Africa, only obtaining certification this month, and has no verification mark. The official FAQ advises users to "only trust official communications from Hunter and the foundation."

Risk Warning:

The white paper lists "Hunter Biden himself" as a risk factor and this phrase is specific. His former law firm, Winston & Strawn, has sued him in the D.C. Superior Court for unpaid legal fees as of June 2025, with the lawsuit stating "far exceeds $50,000"; as for the total debt amount, Hunter Biden himself stated in a podcast that the owed legal fees are about $17 million, while in another interview, he provided a figure of $14 million to $15 million. According to testimony documents made public by his new legal representative at the end of July this year, and reported by multiple U.S. media outlets, he swore on February 9 that he had no car, no savings, and "did not own anything of value" other than his artwork. Another court document shows that from 2021 to December 2023, he sold 27 paintings at an average price of about $54,000, and subsequently sold only one for $36,000. The gun and tax convictions in 2024 have already been fully pardoned by his father, but the pardon does not eliminate civil debts.

The meme coin lacks intrinsic value support, and the project documents also state that the token "has no utility" and its price may drop to zero; several similarly named clones have appeared on-chain; please verify the contract address before trading. This article does not constitute investment advice.