I couldn't sleep after seeing this news, so I immediately got up to write an article.
According to the Wall Street Journal, Hunter Biden, son of Joe Biden, announced the launch of his Meme coin, LAPTOP, scheduled to go live on Coinbase's Layer 2 network, Base, on September 9th. He has confirmed this on his official Twitter account.
Airdrop 20%: Airdropped in two batches to investors who previously lost money on Trump Coin, as well as his Substack subscribers and their friends, and users of video journalist Andrew Callaghan's mailing list.
Remaining 20%: Used for charitable donations, liquidity provision, exchange partnerships and market maker distribution, and the token foundation's accounting, legal and compliance costs. The project team has also designed a destruction mechanism that includes 30 preset events. If the relevant events are achieved within the specified time (such as Bitcoin reaching a new all-time high, LAPTOP's market capitalization exceeding Trump's), up to 30% of the token supply can be destroyed; if the events are not achieved, the corresponding proportion of tokens will be donated to charity. Hunter has recently frequently expressed his interest in cryptocurrencies through media interviews, stating that decentralized digital currencies are an "inevitable future." Following the announcement, the meme market crashed due to the token issuance, with several popular meme tokens within the Robinhood ecosystem experiencing widespread declines. MEME fell by over 20% at one point, and Microduck fell by over 25%. The general sentiment among netizens was one of cynicism and a wait-and-see approach. It's important to note that all tokens with the same name before the official launch are copycats; do not buy them lightly. The event is currently in the announcement phase; official contracts and launch details should be confirmed through official channels. LAPTOP's decision to issue on the Base chain would likely continue to benefit Ethereum.