Hunter Biden memecoin collapses minutes after market debut

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Hunter Biden memecoin collapses

Highlights

Hunter Biden's $LAPTOP memecoin plunged 98% in value within minutes of launch, erasing nearly all investor interest immediately.
Despite Biden's claims of resilience and distancing from $TRUMP, he warned buyers not to expect value appreciation, which proved accurate as demand collapsed.
The $LAPTOP launch coincides with a broader crypto downturn, with Bitcoin down 30%, memecoins depressed, and digital asset treasuries losing $80 billion since mid-2023.

Token launch and immediate market drop

As reported by Financial Times, the $LAPTOP memecoin loses 98 per cent of its value within minutes of launch, turning Hunter Biden’s latest crypto project into an immediate market washout.

Biden says on social media that the token is meant to help “each other and our country to get back up”. He also tries to distinguish the project from ventures linked to the Trump family, calling the $TRUMP memecoin a “grift”. In a post on X, he says the symbol used to try to destroy him is now meant to represent resilience, redemption and recovery.

At the same time, he warns buyers not to expect him or anyone else to increase the token’s value. Investor demand appears to reflect that caution, with the coin collapsing shortly after trading begins.

Political backdrop and crypto sector pressure

The memecoin draws its name from the laptop Hunter Biden left at a Delaware computer repair shop, an episode that becomes a major political issue ahead of the 2020 presidential election. The discovery triggers allegations about his business dealings and scrutiny of Joe Biden, although later government investigations do not find wrongdoing by the former president in connection with his son’s business interests.

The laptop’s contents are still used as evidence in criminal cases against Hunter Biden involving gun possession and tax evasion charges. Joe Biden later pardons his son for federal crimes, saying Hunter is unfairly targeted.

The launch also comes during a broader crypto downturn. Bitcoin is down 30% over the past year, memecoins are trading at depressed levels, and digital asset treasury companies have lost a combined $80 billion in market value since the middle of last year. Millions of holders are still carrying losses on the $TRUMP coin, which is down 75% over the past year, while legislation for the sector remains stalled in the Senate amid concerns over President Donald Trump’s crypto-related profits.

Our earlier article examined the intensifying lobbying fight around the Senate’s Clarity Act vote, with crypto advocates and banking groups pressuring senators in their home states during the recess. We noted the industry’s push for clearer rules on whether tokens are treated as securities or commodities, while opponents warned about weaker safeguards, ethics gaps, and potential impacts on stablecoins and bank lending.

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