“Don’t get too excited about Hunter Biden’s new social media persona,” I wrote on June 5. “Looks like another nepo baby crypto grift is afoot...”

Today, Hunter Biden—son of former President Joe Biden—made it official. In a sign that crypto is entering a new phase of its death spiral, Hunter announced plans to launch his own meme coin. From the Wall Street Journal:

The son of former President Joe Biden is launching a meme coin that takes aim at his family’s nemesis, Donald Trump. And he’s naming it for the most-infamous personal computer in American political history.

Yes, Hunter Biden’s laptop will live on. At least on the blockchain.

Biden’s token will trade under the ticker, $LAPTOP, and launch Sept. 9 on Base, a digital ledger built by Coinbase Global ... the largest U.S. crypto exchange, people familiar with the matter said.

That’s right. Hunter Biden—a convicted felon whose criminal record was wiped clean by a pardon from his daddy, the president—is going full crypto bro. It makes sense. A meme coin is generally a method of siphoning money from people by convincing them to buy fake digital joke money.

“Meme coins carry no intrinsic value, and most tumble in price within days or even hours after their launch,” reports the WSJ.