Hunter Biden's '$LAPTOP' crypto meme coin crashes minutes after launch

Hunter Biden's newly launched cryptocurrency, $LAPTOP, crashed by nearly 99 per cent within hours of its debut on Wednesday, sparking accusations of a rug pull. The meme coin briefly reached a fully diluted valuation of over $US200 billion before plummeting from a peak of roughly $190 per token to less than $2. According to blockchain analytics platform Bubblemaps, more than 15,000 wallets lost money in what the company's CEO described as a "bloodbath", as per The Washington Post. Biden had promoted the coin as a way to reclaim a symbol that had defined coverage of him during his father's presidency, and said it would benefit charity and help those who had lost money on President Trump's own $TRUMP meme coin. Some critics online predicted the crash before it even happened, warning others to "bookmark" posts for when the coin was rug-pulled—claims Biden dismissed at the time. Following the crash, Biden denied any wrongdoing, insisting his team's token allocation remained locked and that he personally had not profited. He accused the media of spinning a false narrative, blaming the crash on insufficient liquidity and "predatory sniper bots," rather than any insider dump.