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Hunter Biden LAPTOP cryptocurrency volatility

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2026-10-01 02:55 UTC → 2026-10-07 21:32 UTC · added ~~removed~~

On September 9, 2026, Hunter Biden launched a cryptocurrency token named $LAPTOP on the Base blockchain. The token experienced extreme volatility, peaking at approximately $190 before crashing by roughly 98 percent within its first hour of trading. During this period, the project’s X account was suspended, and Biden denied accusations that the offering was a “crypto scam” or a “rug pull.” By late September, the LAPTOP memecoin had lost approximately 99.9 percent of its value, with its market capitalization falling below $25 million. Allegations emerged suggesting the project team may have secured eight-figure profits, potentially exceeding $10 million, through token sales. Biden denied these claims, asserting that the team’s wallets had not sold any tokens and challenging accusers to provide specific wallet addresses. The project team initially attributed the volatility to low initial liquidity and the activity of automated “sniper bots.” However, Biden later provided a more specific explanation, attributing the crash to a liquidity error by a market maker. He stated the market maker reportedly seeded the launch pool with approximately 29,000 tokens instead of the intended 5 million, causing an artificial spike in market capitalization that required correction. On October 7, 2026, Biden ~~also defended the project’s tokenomics, claiming $LAPTOP allocates 30 percent of its supply to insiders and 50 percent to~~ released what he termed a “full independent accounting” regarding the ~~community, contrasting it with Trump-related tokens. Regarding founder allocations,~~ collapse. Following the ~~team noted that 30 percent~~ involvement of ~~the supply is locked for six months with~~ forensics firm Groom Lake, Biden stated he holds only a ~~two-year vesting period. Blockchain data indicates that one~~ 1% share of the ~~two primary allocation wallets has sent 17.5~~ launch pool, valued at $5,200. While on-chain analysis confirms a SafeProxy contract holds 300 million tokens ~~to a burn address, while~~ (30% of the ~~other remains inactive.~~ maximum supply) with no outgoing transfers, investigators noted the data does not definitively identify the contract's owners or confirm if all founder allocations are contained within that single wallet.

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