$LAPTOP Cryptocurrency Crashes 98% After Hunter Biden Launch

Hunter Biden has launched a cryptocurrency called $LAPTOP, which is tied to the 'Laptop from Hell' scandal that affected his father's 2020 presidential campaign.

The token crashed 98% in its first hour of trading, plummeting from above $190 to just $2.15 by some reports.

Biden had previously teased the venture on social media, citing his views on digital currency and criticizing fiat money as 'a sham' controlled by a corrupt banking class.

According to Coindesk, coins were distributed to market makers and an unknown address ahead of today's launch, with 100 million $LAPTOP tokens received by the Laptop Token wallet seven days before trading opened.