Hunter Biden's LAPTOP Meme Coin Collapses After Launch

Hunter Biden's $LAPTOP meme coin experienced a dramatic collapse shortly after its launch on September 9, resulting in significant losses for the vast majority of investors. The cryptocurrency, named after the laptop controversy from the 2020 presidential campaign, saw its price spike from an initial value of around $2.39 to over $300 per token before crashing within minutes. Blockchain analytics firm Bubblemaps estimated that approximately 80% of wallets that purchased the token on launch day were left with losses, with more than 15,000 wallets ending up in the red. The token's brief peak produced a theoretical valuation that was noted to be larger than that of BlackRock. In a video posted on X just after midnight on September 12, Biden attributed the collapse to the project's market maker, stating that only $5,000 in liquidity was provided at launch. He said the thin pool was overwhelmed by demand within the first 30 seconds, causing the extreme price movement. "There was a f--k up," Biden stated, accepting responsibility for the failed launch while insisting the underlying problem involved the market maker.