Hunter Biden’s LAPTOP memecoin launched on Coinbase’s Base network on September 9, 2026, and immediately collapsed roughly 98% from its early peak near $190.81 to about $3.70 within the first hour. The launch followed a September 7 announcement on X and drew immediate criticism, while Kraken deleted a promotional post about the token after user backlash. The choice of Base broke from the Solana preference established by prior political memecoins.
The token has a fixed supply of one billion LAPTOP. According to project materials, 20% is reserved for community airdrops. At launch, wallets that lost money trading the TRUMP memecoin are allocated 2% of supply, while subscribers to Biden’s ‘Where’s Hunter?’ Substack are allocated 8%. A further 10% is reserved for future airdrops at the discretion of the Phoenix Veritas Foundation. Tokens left unclaimed after the opening window are expected to be burned.
Thirty percent of the supply is tied to 30 public predictions covering politics, markets, and culture. If a listed event occurs, the corresponding tokens are scheduled to be burned; if it does not occur, the same tokens are designated for charity. Disclosed examples include a Democratic victory in the 2028 presidential election, Trump being impeached, Democrats taking the House or Senate in 2026, Bitcoin reaching a new all-time high, and LAPTOP’s market cap surpassing TRUMP’s. The project has not published the full list of conditions or the oracle mechanism for resolving outcomes, and no independent smart contract audit was disclosed before launch.
Founders, including Hunter Biden, hold 30% of supply, subject to a six-month lockup and a two-year linear vesting schedule. Ten percent is assigned to trading liquidity pools, 5% goes to the Phoenix Veritas Foundation for operations, and a separate 50 million token allocation is designated for charitable donations. Biden described the token as ‘a symbol of resilience, redemption, and recovery,’ but also warned holders ‘should not expect me or anyone else to make this token more valuable.’
The launch referenced losses in the TRUMP memecoin, which peaked at $73.43 in January 2025 and traded near $2.25 by early September 2026, a 97% decline. Nansen counted roughly 988,905 TRUMP wallets carrying $3.81 billion in combined losses through end-June 2026. Arkham Intelligence data showed LAPTOP’s fully diluted valuation briefly touched $144 billion against a liquidity pool holding only about $48,000, and a project multisig that received 100 million tokens a week before launch had already offloaded roughly 42.5 million.
Users quickly criticized the project, with one post stating: ‘You criticize Trump for doing a scam, then do one yourself.’ The launch continues a pattern of extreme volatility in political memecoins, including former NYC Mayor Eric Adams’ NYC token, which fell about 80% within 30 minutes on Solana in January 2026.
