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Following
TRUMP Hunter Biden's $LAPTOP cryptocurrency token plunged 90% within 30 minutes of launch
On September 9, Hunter Biden launched a cryptocurrency token called $LAPTOP. Only 30 minutes after the token went online, its price plunged 90% from its peak. YouTuber Crypto Rover (@cryptorover) reported on this on the X platform, which triggered a strong reaction from many people in the crypto community.
Release details
Biden announced the launch of $LAPTOP earlier this week and positioned it as a memecoin related to his controversial "laptop" incident. The token is issued based on Coinbase's Base network. The founding team holds 30% of the 1 billion token supply.
Another 20% of the tokens will be used for airdrops, with target groups including investors who lost money on the $TRUMP token issued by Donald Trump, Biden Substack subscribers and fans of video journalist Andrew Callaghan. Although the offering attracted a lot of attention, its price quickly collapsed shortly after trading began.
Currently, the price of the token has fallen further. As of press time, its trading price was US$0.7614, a drop of 99.8% from its peak of more than US$400.
Sudden: Hunter Biden's cryptocurrency token,$LAPTOP, has plunged 90% from its peak in 30 minutes.
-- Crypto Rover (@cryptorover)
September 9, 2026
Strong reaction from the crypto community
Many well-known people responded quickly on the X platform. One commenter pointed out that the token "cleared" the entire life cycle of the inferior token in 30 minutes, which often refers to the rapid rise followed by collapse pattern common to low-quality cryptocurrencies.
Another commentator took a more severe view. He believed that this was not a market crash, but a deliberate act of theft, and directly named Biden in his post. A third commentator pointed the finger at Senator Elizabeth Warren, arguing that her push to delay the CLARITY Act provided room for such unregulated activities.
Another community member gave a detailed analysis. He pointed out that political memes follow the same pattern every time: first hype triggers popularity, then airdrops are carried out, and finally insiders are the first to sell. He told buyers that instead of experiencing the typical "rug pull", they were paying for a lesson; if codes with celebrity names were treated as investments rather than lottery tickets, the results would be consistent.
Double-faced nature of ethical controversy
The timing of this incident raises major questions about political consistency. U.S. Senate Democrats had strongly opposed the CLARITY Act, citing ethical issues for officials to make profits from cryptocurrencies while formulating policies. Their opposition led to a postponement of the bill and allowed the cryptocurrency market to continue to operate under limited regulatory oversight.
Meanwhile, Hunter Biden, son of former President Joe Biden, launched a memein that collapsed within the first half hour of the transaction. If the CLARITY Act had established an effective regulatory structure, such issuance might not have occurred at all.
The White House reached an agreement in late July to add ethics provisions to the new draft of the CLARITY Act. However, critics believe the wording lacks strength. As of now, the bill has not yet been passed.
