Hunter Biden-themed LAPTOP token crashes 98% within an hour of launch

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A cryptocurrency token called LAPTOP, themed around Hunter Biden's laptop controversy, debuted with a valuation of $1.6 billion before collapsing nearly 98% in value within an hour. The token's price swung dramatically from $190 to under $4 within minutes of opening on Base, a blockchain network. Onchain records revealed that tokens had been pre-distributed to market makers for approximately a week before public trading began. The rapid collapse has raised concerns about potential manipulation surrounding the token's launch.

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