Following its record, Hunter Biden's anti-Trump meme plunged 99.8%

Two public mentions of "ashes" related to the $3.56 million

Eric Trump and Beeple inadvertently facilitated the implementation of the first two political gambling agreements in Hunter Biden's LAPTOP Memecoin without purchasing or endorsing any assets. The result: 10 million tokens were destroyed, accounting for 1% of the total supply and worth approximately $3.56 million at current prices.

The token peaked at US$199.51 on September 9 and is currently trading at approximately US$0.38, a drop of 99.8%.

Quick overview of core points

• Eric Trump and Beeple accidentally verified the first two political betting agreements for LAPTOP memin.
• 10 million tokens worth US$3.56 million have been destroyed.
• LAPTOP is currently trading at US$0.38, down 99.8% since setting a record on September 9.

How did US$3.56 million "disappear"?

LAPTOP's operating mechanism is different from ordinary memes. 30% of its billion total supply is linked to 30 public forecasts involving real political events. There are only two possible outcomes for each prediction:

• If an event occurs, the corresponding token will be destroyed;
• Otherwise, these tokens will be donated to charity.

It is this mechanism that has just been triggered twice. Digital artist Mike Winkelmann (also known as Beeple) publicly mentioned the token, cashing in on the first bet and destroying 5 million tokens. Later, Eric Trump made a similar move, resulting in the destruction of the remaining 5 million tokens. Orion Biden confirmed the two incidents, and the project's official account immediately announced the removal from circulation of 1% of the total supply, or 10 million tokens, or approximately $3.56 million at current prices.

It is worth noting that Beeple and Eric Trump neither bought LAPTOP, supported it or commented on its economic model. They just mentioned the name, and the change in supply occurred automatically.

The 99.8% plunge makes the destruction amount seem insignificant

US$3.56 million sounds like a huge sum on paper, but it pales in comparison with the losses LAPTOP has already suffered. The token is currently trading at close to US$0.38, with a market value of approximately US$140 million, and a fully diluted valuation of nearly US$389 million. Its all-time high of $199.51 was set just two hours after its release on September 9.

On the day of release, LAPTOP plunged 98% in 90 minutes, from $199 to $1.36, then stabilized at around $2.54, before losing about 85% of its value. For a token with a market value of $140 million, the average daily trading volume reaches $22 million, which speaks for itself. In a statement released after the project collapsed, the project team blamed Sniper Bots and low liquidity rather than insider sell-offs. "You shouldn't expect us, or anyone else, to let this token add value to you," they said. This is a euphemism, which means: each depends on its ability.

Eric Trump: Someone who doesn't want to be a symbol of Bitcoin's narrative

This is full of irony. Eric Trump has been talking openly about Bitcoin for the past few days. In a recent interview, he explained that as the artificial intelligence revolution progresses, cryptocurrencies will become mainstream, citing JPMorgan's now accepting bitcoin as mortgage collateral as an example to prove that the world is changing. He even defended Bitcoin as an alternative to real estate assets, arguing that real estate is illiquid and vulnerable to local political risks, while Bitcoin is not.

This outspoken supporter of cryptocurrencies inadvertently lit a "bonfire" against tokens designed based on his family. There are worse situations, but at least the drama has a sense of humor.

Facts worth remembering

• After two unsolicited public mentions, 10 million LAPTOP tokens (equivalent to US$3.56 million) have been destroyed.
• Of the token's 30 political bets, 28 are still active, with several scheduled to be settled during the November 2026 midterm elections.
• LAPTOP has depreciated 99.8% since setting a record on September 9 and is currently trading at $0.38.
• The fate of the token now depends on the U.S. political calendar, regardless of the wishes of the project team or the individuals mentioned.

Orion Biden's LAPTOP proves that memein can now respond to conversations on Twitter, rather than just to market movements. Eric Trump and Beeple didn't sell anything or buy anything, just said something, and the $3.56 million disappeared. At this rate, the next victim of destruction may be a politician without a crypto-wallet.