TLDR
- Hunter Biden released a forensic report on the LAPTOP memecoin launch and crash
- The report says two market makers profited while early sellers lost access to cash
- LAPTOP jumped from $0.05 to about $317 before crashing nearly 98 percent
- All 300 million founder tokens have not moved since the September 9 launch
- Biden wants the market maker responsible to buy back and burn the tokens
Hunter Biden published a detailed breakdown this week of the LAPTOP memecoin he helped launch last month. The token is named after his laptop, which became a major talking point during the 2020 election.
Biden posted the information on X on Wednesday. He included blockchain data and a report from the consultancy Groom Lake.
A month ago we launched $LAPTOP.
Within minutes, we had a chart that looked like every celebrity rug ever. Completely broken.
I promised you a full independent accounting. Here it is.
1/
— Hunter Biden (@HunterBiden) October 7, 2026
What the Report Found
The report says a wallet linked to “Market Maker 1” received $500,000 before launch. It only used about $5,200 of that money in its opening liquidity position.
Across every liquidity provider, the main pool held fewer than 30,000 LAPTOP tokens. That is roughly 0.003 percent of the one billion token supply.
With so few tokens in the pool, the price was easy to move. A six dollar purchase could push the price up five percent.
LAPTOP rose from $0.05 to about $317 in under two minutes after launch. It then fell nearly 98 percent within the first hour.
The report says Market Maker 1 withdrew its funds 84 seconds after the price peaked. Cash available to sellers dropped from $16,157 to zero almost instantly.
That same market maker made about $686,000 from its liquidity positions, according to the report. A second market maker brought in about $2.18 million more than it spent through trading. Neither firm was named.
Biden’s Response to Critics
Biden said the founder wallet, which holds 300 million tokens, has not moved any funds since launch. He said the tokens will stay locked for six months.
He explained his reasoning for creating the memecoin in his posts. He said he wanted to copy the structure of Donald Trump’s memecoin to make a point about transparency.
Biden said his team published a MiCA disclosure and committed to a token lockup. He said five percent of the supply was meant for charity.
He also said part of his motivation was to respond to critics who called the project a scam after his team would not pay some promoters. Biden has criticized the Trump family’s crypto company World Liberty Financial in the past.
Biden called out the market maker directly in his post. He said the firm responsible for the launch issues should buy back the tokens and burn them.
“But in the end, it’s my responsibility,” Biden wrote. “I take the failure personally.”
President Trump is set to host an event tied to his own memecoin on November 22 at his golf club in Washington, DC. The dinner will include three unnamed speakers and the top 185 token holders.
The advocacy group Public Citizen has estimated that investors in Trump’s memecoin lost $3.2 billion since its 2025 launch.
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