TLDR
- LAPTOP memecoin launched on Base, hitting $190.81 in its first two minutes before crashing to $3.70 in under an hour
- The token had a peak fully diluted valuation of $144 billion but quickly collapsed, with only $48,000 in liquidity backing it at that point
- Market makers GSR and Wintermute received tokens days before public trading opened
- Hunter Biden defended the launch on X, calling LAPTOP a “symbol of resilience, redemption and recovery”
- The project has no utility; founders hold 30% of supply, locked for six months
Hunter Biden’s LAPTOP memecoin launched on Ethereum layer-2 network Base on Wednesday, opening at $190.81 before crashing to as low as $3.70 within the first hour.
By 3:45 PM UTC, the token was trading around $2.10, according to CoinGecko, representing a drop of roughly 98% from its opening price. Trading volume in the first hour topped $13 million across more than 300 pairs.
The token’s market cap sat at approximately $1.6 billion based on a circulating supply of 350 million tokens, with a fully diluted valuation near $4.8 billion. Pooled liquidity stood at just $2.5 million.
JUST IN: Hunter Biden's crypto memecoin $LAPTOP crashes 99% two hours after launch. pic.twitter.com/SsZw73IFow
— Watcher.Guru (@WatcherGuru) September 9, 2026
At peak, blockchain intelligence firm Arkham reported the token’s FDV briefly hit $144 billion — while the liquidity pool backing it held only $48,000.
Token Distribution Before Launch
Onchain data shows a multisig wallet tagged by Arkham as a Laptop Token wallet received 100 million LAPTOP — 10% of total supply — seven days before the public launch.
Hunter Biden’s $LAPTOP memecoin launched on Base today and, two minutes after open, Arkham put its fully diluted valuation at $144 billion.
At that same Arkham snapshot, the liquidity pool contained $48,000.
Only 350 million of the 1 billion tokens were unlocked at launch.
On… pic.twitter.com/p7Tjf0cAoY
— The Wolf Of All Streets (@scottmelker) September 9, 2026
Market maker GSR received 15.5 million tokens four days before trading opened. Wintermute held around 1.8 million tokens in a hot wallet. Balances also appeared at Bitvavo, Kraken, KuCoin and Bitpanda deposit addresses.
Pre-launch allocations to market makers are standard practice. LAPTOP’s tokenomics set aside 20% of supply for liquidity and operations.
Hunter Biden responded to backlash on X, writing: “The symbol they used to try to end me is now a symbol of resilience, redemption and recovery.” He acknowledged cynicism around memecoins, called Trump’s token a “grift,” and told buyers not to expect the token to be made more valuable by him or anyone else.
The project disclosures describe LAPTOP as a digital collectible with no utility, no ownership rights, no voting rights and no profit-sharing. Founders, including Biden, hold 30% of the 1 billion total supply, locked for six months then vested monthly over 24 months.
Airdrop Allocations
The project reserved 2% of tokens for wallets that lost money on the TRUMP memecoin and 8% for subscribers to Biden’s “Where’s Hunter” Substack newsletter.
TRUMP launched in January 2025, peaked near $73, and now trades around $2.25 — roughly 97% below its high. Nearly a million wallets lost a combined $3.8 billion on that token.
Base founder Jesse Pollak confirmed the LAPTOP team contacted his team, but said Base made a “conscious decision” not to assist with the token’s design or promotion.
Digital investigator Stephen Findeisen, known as Coffeezilla, called LAPTOP a “shitcoin” and urged his followers not to buy it before launch.
LAPTOP’s burn schedule includes 30 outcome-based conditions, one of which is whether its market cap overtakes TRUMP’s — which it already had at launch, with $1.6 billion against TRUMP’s $615 million.
