Hunter Biden's LAPTOP memecoin lost more than 95% of its value within an hour of its Wednesday debut on Base. The token peaked at $190.81 two minutes after its 8am ET launch, a price implying a fully diluted valuation near $144 billion against a liquidity pool of $48,000, blockchain intelligence firm Arkham said. An hour after the open it traded near $4.77.
How is the token structured? The project's disclosures describe LAPTOP as a collectible with no utility and a fixed supply of 1 billion tokens, Cointelegraph reported. Founders, including Hunter Biden, are allocated 30%, locked for six months and then vesting over two years. Another 30% is tied to 30 political, crypto and cultural outcomes: tokens are burned when a prediction comes true and sent to charity when it does not. Airdrops account for 20% of supply overall, while the tranche for wallets that lost money on 
Donald Trump's TRUMP token is capped at 2% of total supply.
What did Hunter Biden say before the launch? He called Trump's token a "grift" and said nearly a million wallets had lost a combined $3.8 billion on it. "You should not expect me or anyone else to make this token more valuable for you," he said. The project, he said, was meant to reclaim the laptop episode that dominated years of coverage of him: "They turned laptop into a weapon. I turned it into a token."
Who gained and who lost? Bubblemaps data showed 12,151 of the token's 15,206 traders lost money and 3,026 were profitable, CryptoSlate reported. One wallet spent about $249,800 on 9,124 LAPTOP and sold most of it minutes later for roughly $1.18 million; another spent $200,000 on 919 tokens near $218 and held a position worth under $3,000 an hour later. Bubblemaps said about 60% of the largest holders were wallets funded within the previous 10 days, most of them on launch day.
How did the project respond? The team blamed sniper bots and a launch pool, opened at 5 cents a token, that was too shallow to absorb demand, CoinDesk reported. It said there had been no presale and no allocations to investors or influencers: "Everyone had the same information, at the same time." The project also plans to deploy 4 million tokens, 0.4% of supply, as liquidity incentives on Aerodrome pools. Hunter Biden denied profiting, saying in an X post that nobody on his side had sold and that "I, personally, have not made a single dollar," Cointelegraph reported.
Figures referenced: Donald Trump. — JudgeMarket.
