Hunter Biden's $LAPTOP went live on Base this morning and collapsed roughly 99% within the first hour of trading, as the launch spike unwound almost as fast as it formed.

The memecoin, named after the laptop at the center of years of political controversy, went live at 8:00 AM ET with a one billion supply. Founders including Biden hold 30%, locked for six months; 20% is airdropped to wallets that lost money on TRUMP, his Substack subscribers and journalist Andrew Callaghan's mailing list; and another 30% is tied to real-world prediction outcomes, with tokens burned if events hit and otherwise eventually donated to charity. Despite launching on Base, neither Base nor Coinbase endorsed the project, with Base lead Jesse Pollak stressing the network is permissionless, while Kraken drew criticism for promoting the token.

The near-vertical drop is a familiar day-one memecoin pattern: an early spike as buyers chase the headline, then a rapid unwind as the first holders sell into the hype, leaving latecomers deep underwater.

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