Biden's laptop plan to "correct" Trump's "scam" plunged 99% in hours, affecting 80% of investo

"Hell's Notebook" Under Orion: From Political Stalks to Cryptocurrency Bubble

In 2019, Hunter Biden left a laptop computer in a Delaware repair shop, and for years since, the computer became a much-derided laughing stock of his political career. A few weeks before the 2020 U.S. election, The New York Post published the documents on the computer. Conservative media calls it a "laptop from hell." However, on September 9, 2026, Hunter Biden gave it a completely new label.

He posted a Ticker (ticker/token symbol) on social media platform X and wrote: "They turned the laptop into a weapon, and I'm turning it into a symbol." On the eve of the launch, he announced the launch of a token called $LAPTOP, calling it a symbol of "resilience, redemption and rejuvenation," and responded to President Donald Trump's launch of the $TRUMP token, which Biden dismissed as a "scam." According to him, nearly a million wallets lost approximately $3.8 billion due to holding $TRUMP. To this end,$LAPTOP plans to airdrop 20% of the tokens, including those stuck $TRUMP holders.

A carefully crafted token economics and moral narrative

The Wall Street Journal first reported the plan on September 7, and Biden later confirmed it within minutes: "$LAPTOP /September 9," accompanied by a montage of news clips that finally froze in the image of Trump calling the machine a "laptop from hell."

As a meme coin, the economics of $LAPTOP's token design are unusually complex. It issued a billion tokens on Coinbase's Base network. The founding team, including Biden, locked in for six months and then released gradually over two years. 20% of that goes to airdrops (for subscribers to "Where's Hunter," journalist mailing lists, and a small number of losers assigned to $TRUMP). Another 30% is linked to public "predicted" events: such as Democrats winning the 2028 election, Bitcoin hitting a record high, or $LAPTOP exceeding the valuation of $TRUMP; tokens are destroyed if an event occurs, and donated to charity if it does not occur. In addition, an additional 5% will be donated directly to charity regardless of the outcome. The official contract address is: `0xB095274743941 e953c746F9C228 DA9 c18 Bb6 ec29`.

The project's promotional tone is both moral and financial: it aims to use symbols that have been used to attack the Biden family and in turn counter the Trump family's meme coin empire.

Two-minute glory and subsequent collapse

Trading began at around 8 a.m. EDT on September 9. On-chain data analysis firm Arkham records showed that the price peaked at $190.81 two minutes later, meaning its fully diluted valuation was close to $144 billion, compared with a liquidity pool of only about $48,000 at the time. However, in just 30 minutes, the token price plummeted by about 90%. An hour later, the trading price fell to around $4.77. By afternoon, prices were hovering around $1.80 and continued to slide.

Market data reveals the cruel reality: one wallet bought for about $250,000 and sold for about $1.18 million a few minutes later; another wallet invested about $200,000 at a near high, and then watched the funds evaporate. Subsequent analysis by Bubblemaps found that of the more than 15,000 traders, about 80% lost money; a few dozen wallets captured most of the profits.

As of September 10, the trading price of $LAPTOP was approximately US$0.75, which was approximately 99% lower than its high price at the opening. The circulating market value was in the middle of several hundred million dollars, corresponding to 350 million unlocked tokens. In contrast, after a long decline,$TRUMP stabilized at around $2, while its peak reached more than $70.

Conflict between Hunter Biden's statement and chain data

Faced with the collapse, Hunter Biden did not remain silent. In a post posted on launch-day, he dismissed headlines such as "Rug Pull" and "Biden's crime family" as malicious hype and blamed the blame on lack of liquidity, technical glitches and "predatory sniper robots", claiming that prices had "stabilized at healthy levels." He emphasized that the founder's positions have been locked in: "There is no one on our side to sell, and there is no way to sell. I personally didn't make a dollar." He also said airdropping tokens to people who lost money on $TRUMP was considered a failure, a technical defense: it involved market structure, robots and vesting (vesting period), rather than a guilty plea.

However, this is a tolerance he has never given to the Trump side. He once marketed his meme coins while calling $TRUMP a "scam," counting nearly a million wallets and about $3.8 billion in losses, and packaging $LAPTOP as a corrective measure: providing free tokens to those who were "withdrawn" as a symbol of being able to "say something" after years of being the protagonist of someone else's story. When his chart took on the same pattern-a two-minute surge, a 99% decline, creating thousands of new victims, the explanation quickly shifted from moral failure to a problem with market mechanisms.

His refusal to grant the Trump family meme coins eventually became his own excuse. The people LAPTOP claimed to save were invited to enter the second round of "take-over" and were later told that it was just a liquidity issue, not Rug Pull.

Not an isolated example: The script for celebrity political meme coins

At the same time, on-chain data complicates the "no one is selling" statement. Analysts pointed out that one project-related wallet received 100 million yuan in tokens before launch and transferred tens of millions of tokens, including to market makers such as GSR, who sold off after the opening. While founder tokens may be locked in, other pre-deployed supplies are not static. Community Notes cited the same differences in its posts.

But this is not just a story about Biden. Celebrity and political meme coins follow a fixed script: a famous name, a thin or concentrated supply, a story of "fairness" or "community", a vertically rising K-line, and finally, retail investors are trapped.$ TRUMP was launched a few days before the 2025 inauguration, briefly rebounded to billions of dollars before collapsing; Trump's later disclosures showed it received hundreds of millions of dollars in related fees, while hundreds of thousands of wallets lost money. MELANIA has also carried out a similar pull-up shipment. Caitlyn Jenner, Hawk Tuah, Iggy Azalea, Jason Derulo, Argentina's $LIBRA (after Javier Millay's endorsement), and former New York Mayor Eric Adams's NYC token all produced the same trend: hype, insider or market maker inflows, crashes and denials.

Mark Cuban's timeless saying,"Every meme coin is an ongoing Rug Pull", is true again.$ LAPTOP is unique in its sermon narrative. It is promoted as an anti-fraud representative, explicitly as revenge for $TRUMP losses, and as a recclaim for family scandals. However, it created a new group of victims in just one morning. The people it claims to save have become the source of liquidity for the next round of exits. This is the opposite of it, and it is not obscure.