A much-discussed token launch has finally hit the market, but the outcome fell far short of buyers’ expectations. LAPTOP, a memecoin released by Hunter Biden, the son of former US President Joe Biden, plunged 95.7% in just its first hour of trading on Wednesday, September 9, 2026. This live trading data follows earlier reports circulating across the crypto community regarding the planned rollout.
According to the project’s tokenomics, the coin has a fixed total supply of 1 billion tokens. At its open market launch, only 350 million tokens were made available for trading. Meanwhile, the project’s founders - including Hunter Biden himself - were allocated 300 million tokens, holding 30% of the total supply. The founders’ tokens are locked for the first six months, followed by gradual monthly unlocks over a 24-month period.
Airdrop Tactics and Zero-Utility Claims
The creator promoted the memecoin as an effort to reclaim the laptop narrative following the 2019 incident where a MacBook was reportedly left at a Delaware repair shop. Biden stated that the laptop symbol, which had been used to attack him for years, has now been transformed into a symbol of resilience and recovery.
LAPTOP’s distribution strategy was also designed to clash directly with political rivals’ tokens. The creators distributed 2% of the total supply via an airdrop specifically targeted at wallet addresses that incurred losses from buying the TRUMP memecoin. Additionally, 8% of the coin supply was reserved exclusively for subscribers of the “Where’s Hunter” newsletter on Substack.
A paradoxical stance emerged as Biden dismissed President Donald Trump’s TRUMP coin as a gimmick, yet issued a stern warning for his own token. He cautioned LAPTOP buyers never to expect the token’s value to rise. That warning aligns with the project’s official documentation, which emphasizes that LAPTOP purely lacks utility, ownership rights, voting rights, yield, or any form of profit-sharing mechanism.
Pushback from Network and Crypto Observers
The explicit admission of zero utility drew sharp backlash from independent observers. Renowned digital investigator Coffeezilla openly labeled LAPTOP a junk coin, urging all his followers to stay away and avoid buying the token altogether.
Even more fundamental rejection came from the infrastructure provider itself. Base, the blockchain network hosting the token, took a firm stance by stating it deliberately chose not to assist in the project’s design or participate in promoting the token.
Turning past scandals into a crypto token might sound like a clever marketing ploy. However, with 30% of the token supply secured in the founders’ pockets while retail buyers suffered a 95.7% loss in the first hour, the warning not to expect profits proved to be the only promise genuinely kept from this launch.
Reported by Cointelegraph.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
