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ETH 
TRUMP Hunter Biden's "LAPTOP" memin crashed hours after the Base chain was launched.
On September 9, Hunter Biden's "LAPTOP" memin was launched on the Base blockchain. Released on the market, it suffered a sharp decline shortly after the opening. The token hit a high of $199.51, but fell to a low of $0.7234 on September 10. Due to high price volatility and thin liquidity during the opening period, the token eventually fell 99.6% from its peak.
Hunter Biden launched the project through a personal post, defining it as memoin linked to community distribution, aiming to regain voice in the controversy surrounding his laptop. However, the project triggered a strong backlash in the Base community, with many parties, including Base and other interested parties, trying to distance themselves from formal connections with the project to avoid potential risks.
Early traders face extreme profit-and-loss divergence
Heavy volatility during the opening period has led to very different trading results, depending on the timing of entry. After withdrawing US$250,000, some addresses purchased 919 LAPTOP tokens at a single coin price of approximately US$218, with a total investment of approximately US$200,000. However, the position quickly shrank to about $3,000, with a book loss of more than $190,000.
In contrast, another address had previously invested 100 ETH (worth approximately US$249,800) to buy 9,124 LAPTOP units. Subsequently, the wallet sold 8,480 tokens for 472 ETH (worth approximately US$1.18 million) and retained 644 tokens. Analysis showed that the transaction had achieved a profit of more than $1 million at that time.
This huge profit and loss difference reflects the extremely unstable nature of the token's opening market, rather than conclusive evidence that the founder directly carried out a "Rug Pull". LAPTOP's official disclosure document clearly states that its market may lack sufficient depth and low liquidity may lead to serious slippage and losses.
The founding team tokens are within a six-month lock-up period.
The total number of LAPTOP issued is 1 billion, of which 350 million (35%) are available for circulation when the token is generated. According to the official token economics model, 30% is allocated to the founding team, 30% is used to predict related community distribution, 20% is divided into two rounds of airdrops, 10% is injected into liquidity, 5% is deposited in the foundation's treasury, and another 5% is donated directly to charity.
More detailed project disclosure documents show that 300 million founding team tokens, including Hunter Biden's share, were not released at the beginning of their launch. The tokens are locked for six months, and will then be unlocked gradually on a monthly basis over the next 24 months. In addition, the document states that these founding team tokens are hosted by Coinbase Custody.
This structure is critical to assessing "pool withdrawal" allegations because documented founding team allocations were not marketable during the launch crash. The initial unlocked 35% mainly consisted of airdrop portions of two rounds of financing, liquidity inventories and foundation treasury tokens.
Some community distribution aims to target wallets with negative returns on TRUMP memecoin, reinforcing Hunter Biden's strategy of positioning LAPTOP as a confrontation with Donald Trump's memecoin economic model. According to statistics, nearly 989,000 TRUMP token buyers have previously incurred a cumulative realized and unrealized loss of approximately US$3.81 billion.
CoinGecko data shows that LAPTOP's first-day trading range is US$0.7234 to US$199.51, with a circulating supply of 350 million units. As of September 10, the token's price was still more than 99% below its listing peak.
