LAPTOP Burns $3.5M After Eric Trump and Beeple Mentions

Hunter Biden's memecoin, LAPTOP, has burned 10 million tokens worth around $3.56 million after two public mentions by Eric Trump and digital artist Beeple.

The burn was triggered by predictions resolving to yes, which is part of the token's unique mechanics. The coin's dev team attached 30% of its supply to 30 public predictions about real-world political outcomes, with each allocation having two possible endings: burning tokens or routing them to charity.

Eric Trump and Beeple did not buy or endorse LAPTOP, but their mentions sufficed to settle the first bets written into the token. The project's account confirmed both events, stating that 1% of total supply had been removed from circulation as a result.

LAPTOP has lost significant value since its peak on September 9, when it reached an all-time high of $199.51. It has fallen 99.8% to around $0.38 and has a market capitalization of roughly $140 million.