Hunter Biden calls Trump crypto ventures a ‘Mount Everest of corruption’

Hunter Biden has a new hobby: grading other people’s ethics. On an October 1, 2026 episode of the Unchained podcast, he aimed squarely at the Trump family’s crypto empire.

His targets were World Liberty Financial (WLF) and the TRUMP memecoin. He described both as part of what he called a “Mount Everest of corruption.”

The $3.8 billion accusation

The core of Biden’s argument centered on the TRUMP memecoin. He claimed that nearly one million wallets collectively lost about $3.8 billion in value on the token.

His framing was blunt. Biden said Trump had effectively pulled money out of the pockets of his own supporters.

TRUMP launched on January 17, 2025, just before the inauguration, and quickly hit lofty valuations. Then it fell roughly 97%. Holders who bought near the top were left with a souvenir rather than a portfolio.

Biden also used the moment to put the scrutiny he has faced into perspective. He argued that the accusations leveled against him look minimal next to the scale of corruption he sees in Trump’s dealings.

World Liberty Financial and the FTX comparison

This was not Biden’s first swing at WLF. He had earlier described the venture as corruption on a scale unprecedented in American politics, drawing parallels to FTX, the crypto exchange that collapsed into bankruptcy.

WLF, co-founded by members of the Trump family, has grown fast in decentralized finance. The venture’s USD1 stablecoin has expanded to billions in circulation.

WLF also received preliminary approval for a national trust bank charter in August 2026. That would move a crypto project tied to a sitting president’s family deeper into regulated banking territory.

Trump’s financial disclosures for 2025 showed the family’s crypto ventures generated approximately $1.4 billion in total income. About $592 million of that came from WLF alone.

Biden’s counter-memecoin

Biden did not just talk. On September 9, 2026, he launched his own token, called LAPTOP.

The name is a self-aware nod to the laptop saga that dogged him for years. LAPTOP was pitched as a foil to TRUMP, with a stated focus on returning value to the community rather than enriching insiders.

Biden airdropped 20% of LAPTOP’s supply to people who lost money on the TRUMP memecoin. The design also includes token burns, which permanently remove tokens from circulation, and charity mechanisms tied to upcoming political events.

Politics and crypto, now fully entangled

The episode captures how deeply politics and crypto have fused since early 2025. Before the TRUMP launch, politician-branded tokens were a fringe curiosity.

Now a president’s family runs a stablecoin with billions in circulation and is pursuing a federal trust charter. Meanwhile, a former president’s son runs a memecoin designed to compensate victims of the sitting president’s memecoin.

What this means

For crypto investors, the clearest lesson sits in TRUMP’s chart. A roughly 97% drop from launch-era highs shows how quickly politically themed tokens can unravel once the initial enthusiasm fades.

Biden’s $3.8 billion figure, if accurate, frames that decline in human terms. Nearly one million wallets is not a niche group of degenerate traders: it suggests a broad base of retail buyers drawn in by political loyalty.

The bigger stakes involve regulation. WLF’s preliminary trust bank charter and its fast-growing USD1 stablecoin put the Trump family’s ventures in front of financial regulators, not just political opponents.

The approximately $1.4 billion in 2025 crypto income from Trump’s disclosures will likely remain a central talking point in that debate.