Hunter Biden’s $LAPTOP

Hunter Biden has turned one of the most infamous objects in modern American politics into a cryptocurrency — and what happened next was extraordinary.

The new LAPTOP meme coin , built on Coinbase's Base network, exploded immediately after launch. At one point the token briefly traded at a price implying a fully diluted valuation of approximately $145 billion .

But underneath that enormous number was reportedly only around $48,000 of liquidity .

Within roughly 30 minutes the price had collapsed around 90%. Within about an hour it had fallen approximately 98% from its extreme high. Some early wallets reportedly escaped with enormous profits, while other traders were left nursing six-figure losses.

In today's Daily Crypto Deep Dive , we investigate exactly what happened.

We go back to the original Hunter Biden laptop controversy and explain how the laptop became an internet meme before Hunter Biden eventually decided to turn that meme into an actual cryptocurrency.

We examine who is behind LAPTOP, the involvement of Phoenix Veritas Ventures and the Phoenix Veritas Foundation, the one-billion-token supply, Hunter Biden's founder allocation, the unusual political airdrops and the project's bizarre system of linking hundreds of millions of tokens to predictions about future political, cultural and crypto events.

Then we break down the launch itself.

These notes are supplied by Crypto News Today and are not a transcript. No separate source links were supplied with this edition.