Hunter Biden’s LAPTOP Crashes Over 99%, Erases Most Of $200B-Plus FDV In Hours

Hunter Biden’s newly launched LAPTOP meme coin lost more than 90% of its $200 billion-plus peak fully diluted valuation within hours, amid concentrated supply and extreme trading swings.

Key Points:

LAPTOP briefly topped a $200 billion FDV after launching above $100 billion, then fell as low as roughly $2 billion.

Supply data cited by CoinGape showed founders, airdrop, foundation and liquidity wallets accounted for almost 90% of the token supply.

Early trading produced sharply different outcomes, including a near-$1 million gain for one trader and a near-$200,000 loss for another.

LAPTOP Price Crash

The token launched Sept. 9 with an FDV just above $100 billion before a brief price spike pushed the theoretical valuation above $200 billion, according to DexScreener data. It then collapsed to roughly $2 billion.

The speed of the move showed why FDV can overstate the scale of a launch, because it multiplies the quoted token price by total supply rather than measuring the amount of capital actually invested.

Supply concentration added to the risk. Bubblemaps data cited by CoinGape showed founders, airdrop wallets, the foundation and liquidity wallets accounted for almost 90% of supply before launch, while Biden and co-founders controlled up to 30%.

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Hunter Biden Tokenomics

The swings created sharply different outcomes for early traders. Onchain Lens said one trader bought 9,120 LAPTOP for $249,000 and sold the entire position for $1.2 million, a gain of nearly $1 million.

Another trader spent $200,000 to buy 919 LAPTOP at about $218 each, only to see the position fall below $2,000, according to the same source.

Market-maker activity added another variable. CoinGape, citing Onchain Lens, said Wintermute received 2.5 million LAPTOP, transferred 2.09 million across trading wallets and sold about 500,000 for $2 million across 356 transactions. It also routed tokens to Kraken, Gate and KuCoin deposit addresses.

Before launch, Nic Puckrin, founder of Coin Bureau, told Business Insider that strong initial demand would not make LAPTOP sustainable by itself, pointing to the poor record of political meme coins.

Biden introduced LAPTOP as a political jab at President Donald Trump and his TRUMP (TRUMP), with plans to airdrop up to 20% of supply, including to some traders who lost money on TRUMP. The prelaunch allocation also placed up to 30% with Biden and founders, while founders, airdrop, foundation and liquidity wallets together accounted for almost 90% of supply.

Luke Angell

Luke Angell is a correspondent at Yellow Media, a digital business executive and entrepreneur with more than 20 years of experience building and growing technology and media businesses, including six years at the forefront of Web3 and crypto. He writes about Web3, AI, emerging technology and the intersection of technology, business and digital culture.