Hunter Biden has denied accusations of running a “crypto scam” after his recent crypto offering, titled $LAPTOP, completely tanked almost immediately after hitting the market.
The token LAPTOP, a reference to the former First Son’s numerous scandals involving his personal laptop, began trading on the Base network, an Ethereum layer-2 blockchain developed by Coinbase, on September 9. The token, trading under the ticker $LAPTOP, reached an early high of $190.81 within the first two minutes of trading before falling to as low as $3.70 within the first hour.
One hour after the open, it traded at $4.77, representing a decline of around 98 percent from the intraday peak. Later figures from the same day showed prices in a range including $2.16, $1.97, $1.49, and $1.26 depending on the timestamp.
The token has a fixed maximum supply of 1 billion LAPTOP. At launch, 350 million tokens, or 35 percent of the total, were circulating. This produced a market capitalization of roughly $1.6 billion at the $4.77 price point, with a fully diluted valuation near $4.8 billion.
Pooled liquidity was reported at $2.5 million by some trackers. Blockchain analytics firm Arkham noted that shortly after opening, the fully diluted valuation briefly reached $144 billion against a liquidity pool holding $48,000. First-hour trading volume reached approximately $19 million across multiple pairs.
Thirty percent of the tokens were allocated to Biden and co-founders, subject to a six-month lockup followed by vesting over two years. Another portion was tied to a set of public prediction events; tokens linked to events that occur would be burned, while those linked to events that do not occur would go to charity.
The rapid decline prompted accusations that the offering resembled a “rug pull,” a term used in cryptocurrency markets for projects in which early participants exit and leave later buyers with losses.
POLL: Should Ilhan Omar Be Deported If Found Guilty Of Immigration Fraud?
— Hunter Biden (@HunterBiden) September 11, 2026
“After months of calling out Trump corruption, Hunter Biden is launching his own sh**coin called LAPTOP. Do not buy it,” said crypto investigator Stephen Findeisen, who is widely known as Coffeezilla.
Biden publicly discouraged treating the token as an investment, writing that “you should not expect me or anyone else to make this token more valuable for you.” In earlier interviews he had expressed interest in cryptocurrency and said he wanted “to make some money,” citing substantial legal bills. Reports have placed his outstanding debts, including legal fees, in the range of $14 million to more than $20 million.
Biden and the project team responded by stating that the founders’ allocation remained locked and that no team members had sold tokens. “The team’s allocation is locked. Nobody on our side sold, and nobody could have,” Biden wrote. “I, personally, have not made a single dollar.”
He attributed the price action to insufficient liquidity at launch and to snipers. In a subsequent video he said a market-maker error left only $5,000 of liquidity in the first 30 seconds despite high demand. The team later announced additional liquidity incentives and token burns tied to its prediction mechanism.
As of September 12 the token continued to trade well below its brief peak.
