Biden's Memecoin Crashes Within Minutes
Hunter Biden's memecoin, LAPTOP, crashed within minutes of its launch on Wednesday. The price surged to $222 at 8:05 a.m. EDT before plummeting to just $1.79 by 12:20 p.m., marking the end of the short-lived venture.
Biden had pitched his memecoin as a response to President Donald Trump's crypto ventures, including the TRUMP coin, which has lost 75% of its value since launch. He framed LAPTOP as a way to give back to those who lost money on TRUMP, with 20% of coins set to be 'airdropped' to the community.
The memecoin's failure mirrors that of other politician-endorsed cryptocurrencies, including former New York City Mayor Eric Adams' NYC coin, which dropped 75% in value. Melania Trump also launched her own memecoin in January 2025, but it has since lost most of its value.