Hunter Biden’s LAPTOP Token Launches on Base, Then Crashes 98%
United States
David Swanson/Reuters
Source Analysis
What Happened
What Happened
Where Sources Agree
- arrows_inputToken Market Crash: Some sources suggest the $LAPTOP token lost 98% of its value within the first hour of trading on the Base blockchain, according to onchain data.
- arrows_inputToken Allocation Structure: Multiple accounts detail that the $LAPTOP token features a total supply of 1 billion, with 30% allocated to founders subject to a six-month lockup and 20% designated for community airdrops, according to project disclosures.
- arrows_inputCallaghan Denies Crypto Involvement: Several reports converge on Andrew Callaghan’s explicit denial of involvement with Hunter Biden's $LAPTOP token; Callaghan confirmed that while he initially shared a mailing list, his Channel 5 team removed the data before any promotional emails were sent, citing their belief that crypto is not a legitimate investment, according to official statements.
Where Sources Disagree
- arrows_outputCallaghan's Mailing List Inclusion: While project materials initially listed Andrew Callaghan’s mailing list for $LAPTOP token airdrops, Callaghan and Channel 5 stated they were not involved and ensured their subscriber list was removed before any emails were distributed.
- arrows_outputToken Allocation Discrepancies: Initial reports indicated that 20% of the token supply was reserved for community airdrops and another 20% for liquidity and operational costs. However, later project disclosures clarified that the allocation was actually split into 10% for a day-one airdrop and 10% for future airdrops.
Timeline
September 9, 2026
Crash, Losses, And Aftermath: By the first hour the memecoin had crashed roughly 98% from its intraday peak, with 350 million tokens circulating at launch, roughly $19 million in first-hour volume, and reports noting nearly one million wallets held about $3.8 billion in combined losses on related tokens; Biden and project materials warned buyers not to expect value or guarantees. The launch also routed part of the airdrop toward wallets that lost money on TRUMP, drawing scrutiny and criticism.
September 9, 2026
Launch Peaks Within Minutes: LAPTOP began trading on Base at about 8:02 p.m. and, according to Arkham, hit an intraday peak roughly two minutes later — showing an implied FDV near $144 billion against a tiny liquidity pool — before prices collapsed sharply. Onchain data and analytics showed a huge FDV vs. only about $48,000 in reported liquidity as the token plunged.
September 8, 2026
Pre-launch Backlash And Copycats: Within hours of the announcement copycat LAPTOP tokens appeared on other networks and critics voiced skepticism; Channel 5's Andrew Callaghan and his mailing list denied involvement, and social media reactions skewed toward mockery. Reporting also highlighted the founder lockup that prevents insiders from selling for six months.
Perspectives and Debates
Was $LAPTOP primarily an attempt to exploit a scandal for profit, or a satirical political response to Trump?
Summaries by Ground AI
Sources
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Source Analysis
Timeline
September 9, 2026
Crash, Losses, And Aftermath: By the first hour the memecoin had crashed roughly 98% from its intraday peak, with 350 million tokens circulating at launch, roughly $19 million in first-hour volume, and reports noting nearly one million wallets held about $3.8 billion in combined losses on related tokens; Biden and project materials warned buyers not to expect value or guarantees. The launch also routed part of the airdrop toward wallets that lost money on TRUMP, drawing scrutiny and criticism.
September 9, 2026
Launch Peaks Within Minutes: LAPTOP began trading on Base at about 8:02 p.m. and, according to Arkham, hit an intraday peak roughly two minutes later — showing an implied FDV near $144 billion against a tiny liquidity pool — before prices collapsed sharply. Onchain data and analytics showed a huge FDV vs. only about $48,000 in reported liquidity as the token plunged.
September 8, 2026
Pre-launch Backlash And Copycats: Within hours of the announcement copycat LAPTOP tokens appeared on other networks and critics voiced skepticism; Channel 5's Andrew Callaghan and his mailing list denied involvement, and social media reactions skewed toward mockery. Reporting also highlighted the founder lockup that prevents insiders from selling for six months.
