Hunter Biden has stepped into the crypto spotlight, publicly asking Elon Musk to help revive LAPTOP, a memecoin built around his own political controversy, after its value collapsed just hours after launching.
LAPTOP’s fall was nearly vertical. It dropped 95.7% in its first hour of trading on September 9, plunging from an opening price near $199 to just a fraction of that. Despite a fully diluted valuation at launch that momentarily touched $144 billion, the core liquidity pool held only about $48,000, so, when actual trading began, sell pressure outpaced real buy interest immediately.
Disclosures for LAPTOP made clear the token offered no underlying utility and called it a digital collectible. 30% of its supply went to the founders under a 6-month lock-up, and 2% was allocated to wallets compensating prior losses on another political token, TRUMP.
The public appeal to Musk matters because, in memecoin cycles, attention itself is often the product. When support fades, pulling a figure like Musk into the story can become a visibility play.