LAPTOP token market cap falls below $25 million after 99.9% plunge

  • LAPTOP's market capitalization fell below $25 million after a 99.9% decline from issuance.
  • The project team was reported to have earned tens of millions of dollars.
  • Hunter Biden said team wallets sold none; tokens face six-month locks and two-year vesting.

The market capitalization of LAPTOP, a token launched by Hunter Biden, has fallen below $25 million, down 99.9% from its issuance. Reports have claimed that the project team may have earned tens of millions of dollars. Hunter Biden rejected that estimate, saying the launch performed poorly and that the accounts would be disclosed. He said team wallets had not sold any LAPTOP, with team holdings subject to a six-month lockup followed by two years of vesting (gradual token release). Those terms were described in relevant disclosure documents, and he asked the people making the profit claim to publish the wallet addresses supporting it.

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LAPTOP token market cap falls below $25 million after 99.9% plunge - CoinPost Terminal