Hunter Biden Defends $LAPTOP Memecoin After 99.5% Collapse
- —The token surged from a $50 million valuation to $23 billion, briefly hitting a $316 billion market cap
- —It then fell 99.5% within minutes and now trades at $0.08215
- —Insiders retained 30% of supply for liquidity, with 20% earmarked for the community
- —Biden pledged to disclose all trading wallets and compensate genuine losers
Why it matters: The episode highlights the risks of celebrity-backed memecoins and could intensify regulatory scrutiny of such launches.
Source: ZyCrypto