Hunter Biden Should 'Go Back to Painting,' Says Eric Trump as LAPTOP Coin Sinks 98% Soon After Launch

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Hunter Biden addressed the controversy over the launch of his Laptop ( LAPTOP ) memecoin, which crashed 98% within an hour of going live on Wednesday.

In an X post, Biden attributed the initial price spike and subsequent fall to technical issues and "predatory snipers" who tried to outpace liquidity providers. He also refuted claims of a "rug pull" or any involvement in the price manipulation.

"The team's allocation is locked. Nobody on our side sold, and nobody could have. I, personally, have not made a single dollar," said the son of former President Joe Biden .

Biden criticized legacy news and "social media trolls" for "spinning realities to fit their own narrative."

"I'm going to keep doing what I do best: ignoring the noise and reclaiming the narrative," he added.

As you may have seen, the LAPTOP memecoin saw a sharp swing in token price during its first hours of trading. The headlines are all the same. Token down 99%. Rug pull. Biden Crime Family. The list goes on. This is far from the truth. The reality is that available liquidity… — Hunter Biden (@HunterBiden) September 9, 2026

As you may have seen, the LAPTOP memecoin saw a sharp swing in token price during its first hours of trading. The headlines are all the same. Token down 99%. Rug pull. Biden Crime Family. The list goes on. This is far from the truth. The reality is that available liquidity…

Hunter Biden (@HunterBiden) September 9, 2026

Blockchain Data Contradicts Biden's Claims

LAPTOP opened on Base , a Layer-2 blockchain developed by Coinbase , briefly hitting $190 in the first two minutes before collapsing to $3.70 within the hour.

On-chain data attributed the price collapse to insider distribution rather than ordinary selling. A wallet labeled as a Laptop Token address received 100 million tokens, roughly 10% of the total supply, seven days before launch, and then sold 42.5 million of them into the market.

Blockchain analytics platform Bubblemaps labeled the launch as a "bloodbath," with 80% of traders losing their money.

$LAPTOP was a bloodbath! 80% of traders lost money: • 2 lost $100K-$1M • 100 lost $10K+ • 700 lost $1K+ • 11,000 smaller losses Thank you Hunter Biden! 🤡 pic.twitter.com/kncqLeiZ4B — Bubblemaps (@bubblemaps) September 9, 2026

$LAPTOP was a bloodbath! 80% of traders lost money: • 2 lost $100K-$1M • 100 lost $10K+ • 700 lost $1K+ • 11,000 smaller losses Thank you Hunter Biden! 🤡 pic.twitter.com/kncqLeiZ4B

Bubblemaps (@bubblemaps) September 9, 2026

World Liberty Financial (WLFI) co-founder Eric Trump , meanwhile, took a dig at the fiasco, saying, "Hunter should go back to painting…"