10 September 2026 , 12:42
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Hunter Biden launched a memecoin called $LAPTOP on Wednesday, and within an hour of its debut on the Base blockchain the token had lost roughly 98% of its value, falling from a peak of $190.81 to as low as $3.70.
An hour after opening, the token’s price had settled at $4.77, putting its market capitalization at approximately $1.6 billion — though the liquidity pool backing it contained only $2.5 million. According to Arkham, the blockchain intelligence firm, the token’s fully diluted valuation briefly climbed to $144 billion in early trading even as the liquidity pool contained just $48,000.
In the first hour, trading across 314 pairs totaled roughly $19 million, with an Aerodrome Slipstream USDC pool responsible for 46.8% of that volume; Uniswap v4 on Base captured the bulk of what remained.
Hunter Biden, the 56-year-old son of former President Joe Biden, announced the token Monday in a post on X that compiled news clips referencing his laptop — the personal computer he left at a Delaware repair shop in 2019, whose contents became a recurring political issue during the 2020 election and beyond. "They turned laptop into a weapon. I turned it into a token," he wrote in a follow-up post on Tuesday, according to Bloomberg.
Onchain data shows that a multisig wallet Arkham tagged as belonging to the Laptop Token project was sent 100 million tokens — one-tenth of the total supply — a week before the launch, and has since offloaded roughly 42.5 million of those tokens. Four days ahead of the launch, 15.5 million tokens were sent to market maker GSR via an intermediary address, and GSR has been moving those tokens into the market since then. Some 14.5 million tokens — the biggest single allocation made before launch — were sent to an unidentified wallet about two hours before trading started.
Of the one billion tokens issued, founders including Hunter Biden hold 30%, locked for six months and vesting over two years, according to The Wall Street Journal. Another 20% will be distributed in two batches to wallets that lost money on President Donald Trump’s $TRUMP memecoin, subscribers to Hunter Biden’s Substack, and a mailing list associated with video journalist Andrew Callaghan. Callaghan said publicly that he has no involvement with the project.
The $LAPTOP tokenomics include a burn schedule tied to 30 predetermined outcomes. One condition — that $LAPTOP’s fully diluted valuation surpass $TRUMP’s — was met on debut day, with $LAPTOP’s FDV reaching $4.8 billion against $TRUMP’s $2.26 billion, according to CoinDesk. Trump’s coin, which generated $635 million in licensing income for the president in 2025, launched in January of that year and now trades roughly 97% below its own peak.
Hunter Biden has said he intends to profit from the venture. "I also want to make some money," he told Bloomberg in a recent interview with Tucker Carlson.
Technology & Business Editor