$LAPTOP Meme Coin Crashes by Over 98% in First Hour of Trading

Hunter Biden has launched his own meme cryptocurrency, called $LAPTOP, which is tied to the infamous 'Laptop from Hell' scandal that dogged his father's 2020 presidential campaign. The coin quickly crashed by over 98% in its first hour of trading.

The token, which runs on the Base blockchain operated by Coinbase Global, was launched after Biden posted a video on X referencing years of media coverage of the laptop. He had previously teased the venture in June, expressing his views on digital currency and the corrupt banking class.

According to CoinDesk, $LAPTOP began trading above $190 in its first few minutes but then plummeted to $2.15 as of this writing. The coin's distribution was handled by market makers and an unknown address ahead of launch, with some transfers occurring several days before the token went live.