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Hunter Biden's $LAPTOP Token Launches on Base, Then Crashes 98%

United States

David Swanson/Reuters

David Swanson/Reuters

What Happened

Hunter Biden and co‑founders launched $LAPTOP on Base; minutes after debut the memecoin spiked to absurd implied valuations and plunged about 98% within an hour, leaving most buyers underwater. On‑chain data show thin liquidity and concentrated pre‑launch transfers, and project disclosures state the token has no utility.

What Happened

Hunter Biden and co‑founders launched $LAPTOP on Base; minutes after debut the memecoin spiked to absurd implied valuations and plunged about 98% within an hour, leaving most buyers underwater. On‑chain data show thin liquidity and concentrated pre‑launch transfers, and project disclosures state the token has no utility.

Where Sources Agree

  • arrows_inputToken Launch and Crash: Various sources establish that the $LAPTOP token, launched on the Base network on September 9, plummeted 98% within its first hour of trading, according to blockchain analytics that highlighted a discrepancy between its market valuation and roughly $48,000 in liquidity.
  • arrows_inputToken Supply and Distribution: Some coverage highlights the $LAPTOP token's 1 billion total supply, with 30% allocated to founders subject to a six-month lockup and two-year vesting period, as outlined in official project disclosures.
  • arrows_inputCallaghan Denies Involvement: A portion of reporting indicates that video journalist Andrew Callaghan and his Channel 5 outlet have no involvement with Hunter Biden’s $LAPTOP token, with Callaghan confirming that their subscriber mailing list was removed before any promotional emails were sent, according to Channel 5 statements.

Where Sources Disagree

  • arrows_outputAirdrop Allocation Discrepancies: Initial reports indicated that 20% of the token supply was allocated for airdrops, including mailing lists. However, later project disclosures clarified that this 20% was split, with 10% allocated for a day-one airdrop and another 10% reserved for future airdrops.
  • arrows_outputCallaghan Token Involvement: Initial reports cited an email list curated by journalist Andrew Callaghan as part of the $LAPTOP token distribution plan. However, Callaghan subsequently denied any involvement with the crypto project, asserting that his team successfully requested the removal of their subscribers before any promotional emails were distributed.
  • arrows_outputToken Vesting Schedule: Sources differ slightly on the token's vesting schedule, with some reporting a six-month lockup followed by a two-year release, while others describe a full supply unlock over 36 months.

Timeline

September 9, 2026

Crash, Low Liquidity, Aftermath: The token plunged about 98% from its intraday peak within the first hour, trading down to single‑digit and sub‑$5 levels; 350 million tokens (35%) were circulating at launch, pooled liquidity was reported at about $2.5 million (with other reports of only ~$48k backing early FDV), first‑hour volume was roughly $19 million, and commentators said insiders were the primary beneficiaries.

September 9, 2026

Listing And Lightning Spike: LAPTOP began trading on the Base network at about 8:02 p.m. and, within roughly two minutes, printed an extreme intraday spike that analytics firm Arkham displayed as about $144 per token (implying a ~$144 billion FDV) while other reports showed an intraday high as high as $190.81 despite a tiny reported liquidity pool (~$48,000).

September 8, 2026

Pre‑Launch Backlash And Copycats: Within minutes of reporting, at least 14 copycat LAPTOP tokens appeared on other networks and promotional posts (including a Kraken listing) circulated then disappeared, while Andrew Callaghan and Channel 5 publicly said they were not involved. Critics warned of mockery and replication ahead of launch.

Summaries by Ground AI

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