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Meme coin LAPTOP linked to Biden’s son revealed: The token has no practical utility or development roadmap, leaving buyers at risk of losing all their invested funds.

1 hours ago

A token disclosure document for LAPTOP, a meme coin launched by Hunter Biden, son of former U.S. President Joe Biden, shows that the token is issued by the Cayman Islands-based Phoenix Veritas Foundation and British Virgin Islands (BVI) firm Phoenix Veritas Ventures Ltd, and co-founded by Hunter Biden and other parties. LAPTOP is defined as an ERC-20 community token and digital collectible deployed on Base. The project team explicitly states that the token has no utility function, no plans to develop future utility, and cannot be staked. Holding LAPTOP does not represent equity ownership in the Phoenix Veritas Foundation, Phoenix Veritas Ventures Ltd, or any other entity, nor does it grant holders voting, governance, revenue, profit-sharing, dividend, or income rights. The project team added that LAPTOP’s value is derived entirely from community sentiment, and the issuer has not conducted any fundraising activities related to the token. The risk disclosure section further notes that LAPTOP is provided “as-is”, with no development roadmap committed to by the project team, nor any obligation to continue developing the token. LAPTOP has no price floor, buyback, or redemption mechanism; its price is driven entirely by meme culture sentiment and market speculation, meaning purchasers could lose their entire investment. Additionally, 65% of LAPTOP’s total supply is subject to lockups or multi-year vesting schedules, and future release or sale of these concentrated holdings could exert selling pressure.

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