Hunter Biden's newly launched cryptocurrency, the $LAPTOP meme coin, experienced a tumultuous debut on Wednesday, surging from approximately $3 to over $300 in seconds before crashing back down to around $2.60. The dramatic price fluctuation, often characteristic of meme coins, saw the token surrender virtually all of its gains within minutes of its launch.
According to pricing data, the $LAPTOP token generated nearly $6 million in trading volume and reached a market valuation exceeding $750 million during its brief surge. The cryptocurrency was launched on Base, a blockchain developed by Coinbase, and began trading on the decentralized exchange Aerodrome.
Biden, referencing the controversy surrounding his former laptop, stated on X, "They turned laptop into a weapon. I turned it into a token." The contents of his laptop, first reported in 2020, included messages about his business dealings and details of his past struggles with drug addiction.
Eric Trump, son of former President Donald Trump, publicly commented on the coin's performance, writing on X, "Hunter should go back to painting," alluding to Biden's art career.
Biden has also stated that 20% of the $LAPTOP token supply will be allocated to individuals who lost money trading Trump's $TRUMP meme coin. He criticized Trump's cryptocurrency venture, writing, "Trump has broken trust in everything he’s ever touched. And his token was no exception."
Reports indicate that Trump's $TRUMP meme coin has resulted in significant losses for retail traders, trading at approximately 97% below its record high. A July 2026 report by Democratic staff on the Senate Permanent Subcommittee on Investigations estimated that nearly one million retail traders lost about $3.8 billion on the $TRUMP coin.
Biden has acknowledged a profit motive behind his cryptocurrency ventures, telling podcaster Tucker Carlson, "I really believe in cryptocurrency. But I also want to make some money."
The $LAPTOP project was initially planned with a supply of one billion tokens. Biden and other founders were set to receive 30% of the supply, with their tokens locked for six months and vesting over two years. The project also included a "burn" mechanism designed to destroy up to 30% of the token supply under specific conditions, such as a Democrat winning the 2028 presidential election and the $LAPTOP token's fully diluted valuation surpassing that of the $TRUMP coin.