Hunter Biden’s new memecoin, LAPTOP, had one of the shortest and most chaotic lifespans crypto has seen in a while. The coin launched Wednesday, briefly reached a $144 billion diluted valuation, then collapsed 98.8% within hours. Biden framed it around the laptop saga that followed him for years, saying,“They turned laptop into a weapon. I turned it into a token.”
He has since denied it was a rug pull, claiming a mix-up happened but that he was intimately involved in the coin’s creation. Not everyone’s buying that. Eric Trump mocked him online, saying Hunter“should go back to painting,”and financial commentator Carol Roth called memecoins“a gambling vehicle”rather than an investment. Meanwhile, one analysis found an account that turned $250,000 into nearly $1 million by dumping the coin after just eight minutes.
The bigger story here is the pattern. Both Donald and Melania Trump launched memecoins that spiked and then collapsed, which makes this less about one family and more about how celebrity tokens work in general. They pump on hype, then the early exits cash out. Would you ever put real money into a memecoin? Sound off and let us know.
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Local Lawton
Local Lawton is a contributor to LocalBeat, covering local news and community stories.