Morning Minute: Hunter Biden’s LAPTOP Crashes
A memecoin called LAPTOP, tied to Hunter Biden, launched on Base and spiked to $190.81 within two minutes before collapsing almost entirely over the day. Individual traders recorded both rapid million-dollar gains and near-total losses, while the wider crypto market registered limited immediate reaction before slipping later.
Why It Matters
The episode highlights how quickly tokenized meme projects can generate extreme, concentrated gains and losses for early participants without necessarily moving major crypto benchmarks immediately. That dynamic matters for investors assessing risk in nascent token launches and for platforms that list or airdrop such projects.
Key Facts
- Launch platform and timing: LAPTOP launched on Base on Wednesday
- Peak price: $190.81, reached 120 seconds after launch
- Price collapse: Down about 90% within 30 minutes; near $4.77 at one hour; around $1.80 by afternoon (~99% below the peak)
- Top quick winner: One wallet withdrew $249,800 from Binance, bought 9,124 tokens at ≈$27, and sold most near $129 for ~ $1.18M (≈$930k gain)
- Big loss example: One wallet spent ≈$200,000 on 919 tokens near $218; the position was worth under $3,000 an hour later (~98.5% loss)
A new memecoin called LAPTOP, associated with Hunter Biden, made a dramatic debut on Base on Wednesday, surging to $190.81 just two minutes after launch and then disintegrating over the course of the day. Within half an hour the token had lost roughly 90% of its value; an hour after launch it was trading near $4.77 and by the afternoon it sat around $1.80, approximately 99% below its peak.
The short-lived rally produced rapid winners and steep losers. One wallet that moved $249,800 from Binance before the launch purchased about 9,124 LAPTOP tokens at roughly $27 each and sold most of that holding minutes later near $129, realizing about $1.18 million—a roughly $930,000 gain on a five-minute hold. Some Hunter Biden substack subscribers who received airdrops also cashed out at peak values. Conversely, another wallet that spent about $200,000 to buy 919 tokens near $218 found that position worth less than $3,000 an hour later, a loss of about 98.5%.
Despite the extreme swings in LAPTOP’s price, the token’s initial tumble had little immediate effect on major cryptocurrencies. In the hours after the launch, majors and many onchain leaders remained largely unchanged, though the market later experienced a broader downturn: crypto majors declined 1–3% with Bitcoin near $77,800 and ether around $2,460, while several recent alt leaders retraced between 8–10%.
The LAPTOP episode unfolded amid other notable industry moves. Consensys announced a split that will leave MetaMask as a rebranded company while a new Consensys retains Linea and institutional infrastructure. Separately, Nasdaq invested $100 million in Kraken parent Payward at a reported $21 billion valuation. Meanwhile, Bitcoin ETFs recorded about $120 million in net outflows and ETH ETFs saw roughly $35 million in outflows on Wednesday, underscoring broader capital movement in the market that day.
Keep Reading
Nasdaq Invests $100 Million in Kraken Parent Payward
Tether And Fasanara Seed A $400 Million Private Credit Fund
U.S. Bank Issues Its Own Stablecoin On Stellar
Latitude Raises $35 Million For Local Stablecoin Off-Ramps
Original source: Decrypt