Hunter Biden’s LAPTOP Token Plunges 98% After $1.6 Billion Debut

LAPTOP, a new crypto token linked to Hunter Biden’s laptop, lost almost all of its value within minutes of beginning trading on the Base network, CoinDesk reported. The token initially surged to about $190 before falling below $4 in less than an hour, representing a decline of roughly 98%. Its debut was valued at $1.6 billion. Onchain records reviewed by CoinDesk indicate that LAPTOP tokens had been distributed to market makers for about a week before public trading started. The records provide a view of token activity ahead of the launch, while the sharp price movement marked a highly volatile opening session for the asset. LAPTOP is listed under the crypto asset symbol LAPTOP.