Hunter Biden says LAPTOP market maker should ‘buy it all back and burn it’
A commissioned report details thin liquidity and market-maker-linked gains during LAPTOP’s launch.
Hunter Biden reveals that the $LAPTOP memecoin is not a rug pull, but rather a trolling attempt aimed at similar projects. In a series of posts on X, Biden provided blockchain data showing that 300 million tokens in certain wallets hadn't moved since the launch on September 9. He also noted that the memecoin's price chart resembled "every celebrity rug ever" shortly after launch.
Market makers hired by the project withdrew their funds soon after the peak price of $317, with one making $686,000 and the other earning about $2.18 million more. Biden's memecoin launch report, published by Delaware-based intelligence consultancy Groom Lake, confirmed this behavior. Biden launched the token in response to the scrutiny surrounding his infamous laptop, which has been a point of contention in recent years.
He intended to commit 5% of the tokens for charity and hoped the project would help some charities he cares about. Despite this, he said he was incentivized to continue the project to "piss off Don and Eric" and other key opinion leaders who called it a scam.
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