Key Takeaways
- The LAPTOP token debuted on Base network, reaching $190.81 within its opening moments before plummeting to $3.70 in less than 60 minutes
- Despite briefly achieving a fully diluted valuation of $144 billion, the token suffered a rapid decline with merely $48,000 in liquidity supporting it
- Prominent market makers GSR and Wintermute obtained token allocations several days ahead of public availability
- Hunter Biden took to X to justify the token’s release, characterizing LAPTOP as representing “resilience, redemption and recovery”
- The memecoin serves no functional purpose; founding team controls 30% of total tokens, subject to a six-month lockup period
The LAPTOP memecoin associated with Hunter Biden made its debut on Base, an Ethereum layer-2 scaling solution, this Wednesday, beginning trading at $190.81 before experiencing a dramatic collapse to a low of $3.70 during its inaugural hour.
Data from CoinGecko indicates that by 3:45 PM UTC, the digital asset was changing hands at approximately $2.10, marking a devastating decline of nearly 98% from its initial trading price. During this turbulent first hour, trading activity exceeded $13 million across more than 300 trading pairs.
With a circulating supply of 350 million tokens, the asset maintained a market capitalization of roughly $1.6 billion, while its fully diluted valuation approached $4.8 billion. However, the available pooled liquidity totaled a meager $2.5 million.
JUST IN: Hunter Biden’s crypto memecoin $LAPTOP crashes 99% two hours after launch. pic.twitter.com/SsZw73IFow
— Watcher.Guru (@WatcherGuru) September 9, 2026
According to blockchain intelligence platform Arkham, the token’s FDV momentarily reached an astronomical $144 billion during its peak — while the corresponding liquidity pool contained a mere $48,000.
Pre-Launch Token Allocation
Blockchain records reveal that a multisignature wallet identified by Arkham as belonging to the Laptop Token project acquired 100 million LAPTOP tokens — representing 10% of the complete supply — a full week prior to public trading commencement.
Hunter Biden’s $LAPTOP memecoin launched on Base today and, two minutes after open, Arkham put its fully diluted valuation at $144 billion.
At that same Arkham snapshot, the liquidity pool contained $48,000.
Only 350 million of the 1 billion tokens were unlocked at launch.
On… pic.twitter.com/p7Tjf0cAoY
— The Wolf Of All Streets (@scottmelker) September 9, 2026
The market making firm GSR obtained 15.5 million tokens four days ahead of the official launch. Meanwhile, Wintermute maintained approximately 1.8 million tokens within a hot wallet. Token holdings were also detected at deposit addresses for Bitvavo, Kraken, KuCoin and Bitpanda exchanges.
Providing early token allocations to market makers represents conventional industry practice. According to LAPTOP’s tokenomics structure, 20% of the total supply was designated for liquidity provision and operational purposes.
In response to criticism on X, Hunter Biden stated: “The symbol they used to try to end me is now a symbol of resilience, redemption and recovery.” He recognized the skepticism surrounding memecoins, labeled Trump’s token as a “grift,” and cautioned purchasers against expecting him or others to enhance the token’s value.
Official project documentation characterizes LAPTOP as a digital collectible lacking any utility, ownership privileges, governance rights, or revenue distribution. The founding team, which includes Biden, controls 30% of the one billion total token supply, secured under a six-month lock followed by monthly vesting across 24 months.
Airdrop Distribution Strategy
The initiative allocated 2% of tokens to cryptocurrency wallets that experienced losses on the TRUMP memecoin and designated 8% for individuals subscribed to Biden’s “Where’s Hunter” newsletter on Substack.
The TRUMP token debuted in January 2025, climbing to nearly $73 before declining to current levels around $2.25 — approximately 97% beneath its peak value. Close to one million wallets collectively suffered $3.8 billion in losses on that particular token.
Jesse Pollak, founder of Base, acknowledged that the LAPTOP development team reached out to his organization, though he emphasized that Base made a “conscious decision” to refrain from participating in the token’s development or marketing efforts.
Stephen Findeisen, a digital asset investigator operating under the alias Coffeezilla, condemned LAPTOP as a “shitcoin” and strongly advised his audience against purchasing it prior to its launch.
The LAPTOP token incorporates a burn mechanism featuring 30 condition-based triggers, including one contingent upon surpassing TRUMP’s market capitalization — a milestone it had already achieved upon launch, with $1.6 billion compared to TRUMP’s $615 million.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
