Automatically translated version. May contain inaccuracies compared to the original.
The son of the former U.S. president, Hunter Biden, launched his own memecoin, $LAPTOP. He promised to give some tokens to investors who lost money on the memecoin $TRUMP. In the first minutes of trading its valuation soared to tens of billions of dollars with liquidity of only tens of thousands, after which the token plunged about 98–99%. After the crash Biden was accused of a rug pull — a scam in which creators or insiders profit from the hype and then the token collapses.