Hunter Biden’s LAPTOP memecoin went live on Coinbase’s Base network on Sept. 9, turning the political controversy surrounding his laptop into a tradable crypto token. Memecoins are cryptocurr
Hunter Biden’s LAPTOP memecoin went live on Coinbase’s Base network on Sept. 9, turning the political controversy surrounding his laptop into a tradable crypto token.
Memecoins are cryptocurrencies built largely around internet jokes, personalities or viral narratives rather than traditional utility. Their prices are often driven by hype, social media and speculation, making them especially volatile and prone to sharp gains or losses within hours.
The project was first announced on Sept. 7 and was pitched as a way for Biden to “reclaim the narrative” around the laptop story that became a major issue during the 2020 U.S. presidential election.
Related: Trump’s Bombardier warning triggers $80 million jet listing
The token also takes aim at President Donald Trump’s crypto business. Twenty percent of LAPTOP’s supply is allocated to airdrops, including a portion for wallets that lost money trading Trump’s Official Trump (TRUMP) memecoin.
That is a sizable group.
A Reuters investigation published in June estimated that more than 1 million TRUMP investors had accumulated roughly $2.3 billion in realized and unrealized losses since the token’s January 2025 launch.
Within hours of LAPTOP going live, one trader appears to have learned how quickly launch-day memecoin gains can reverse.
Blockchain analytics account Lookonchain said on Sept. 9 that the wallet withdrew about $250,000 from Binance ahead of the launch before spending 200,000 USDC on roughly 919 LAPTOP tokens.
Onchain transactions show two purchases of 100,000 USDC each, receiving about 399.7 LAPTOP and 519.7 LAPTOP. The trades imply an average entry price of roughly $218 per token.
Lookonchain said the position had fallen to around $3,000 shortly afterward, wiping out roughly 98% of its value. DeBank later showed the wallet’s 919 LAPTOP worth about $4,675.
Other traders had already warned about the token’s structure. Crypto commentator Elja pointed to the concentration of LAPTOP’s supply and later wrote:
“Hopefully you didn't buy $LAPTOP just to become someone else's exit liquidity.”
LAPTOP experienced extreme volatility almost immediately after launch. CoinGecko showed the token reaching an all-time high of $199.51 before falling as low as $4.15.
At the time of writing, LAPTOP was trading near $5.60, down roughly 97% over 24 hours.
Related: XRP Healthcare says 3-year-old bug drained 4,011 crypto wallets
