$LAPTOP Token Crashes 98% in First Hour
Hunter Biden's memecoin, $LAPTOP, crashed approximately 98% in its first hour of trading on September 9. The token launched on Base, Coinbase's Ethereum Layer 2 network, with a total supply of one billion tokens. Twenty percent of the supply is reserved for community airdrops, including a 2% tranche to wallets that lost funds trading the $TRUMP memecoin and an 8% allocation to subscribers of Hunter Biden's 'Where's Hunter?' Substack.
The $LAPTOP token has a fixed supply of one billion tokens on the Base network. The founding team, including Hunter Biden, holds 30% of the total supply, locked for six months with linear vesting over two years. Thirty percent of the supply is tied to 30 real-world prediction events where unmet conditions send tokens to charity instead.
The token's name references the laptop that Hunter Biden left at a Delaware repair shop in 2019. Its contents became central to political investigations during the 2020 presidential campaign.