Hunter Biden Blames Market Maker for LAPTOP Meme Coin Collapse

Hunter Biden Blames Market Maker for LAPTOP Meme Coin Collapse

The analysis by Groom Lake revealed that the founder’s wallet retained 300 million LAPTOP tokens without any blockchain transactions. This supports the claim that creators did not sell their holdings, countering the rug pull narrative. However, the identities of the two market makers remain unknown, labeled only as „Market Maker 1” and „Market Maker 2.”

The primary issue was extremely limited liquidity. One market maker received $500,000 but allocated only $5,200 to the initial pool. With just 30,000 tokens available, the market was highly sensitive. A $6 buy order could sway the price by 5%, while a sell order required roughly $7,400 for the same effect. Researchers compared 668 similar token launches and found none with such an imbalance.

After launch, the token surged from $0.05 to $317 in two minutes. Yet, within the first hour, it closed 98% below its peak. Eighty-four seconds after the high, Market Maker 1 withdrew liquidity, reducing available funds for sellers from $16,157 to zero.

The report highlighted profits for both market makers. Market Maker 1’s position yielded a $686,000 gain, while Market Maker 2’s activity generated over $2.1 million in net USDC, per the team’s accounting method.

After launch, the token surged from $0.05

Hunter Biden accepted responsibility for hiring the firms and publicly urged the market makers, whom he claimed mishandled the launch, to repurchase and burn the tokens. He also stated his portion is locked for seven months, then gradually released over two years.

Currently, the token trades at $0.08, up 10% daily. Market capitalization dropped from $560 million to $29 million. Daily trading volume rose 143% to $4.6 million, per CoinGecko, sparking renewed community debate.

Reactions are divided. Crypto trader Bitlord suggested Biden might have been misinformed by unprepared market makers. Avenger Hailey Lennon dismissed the explanation as a post-mortem of an operation resembling a rug pull. Meanwhile, crypto consultant Nicki Sanders noted founder wallet data is verifiable on-chain but emphasized the report was issued by Biden’s team, with market makers not publicly responding.

This case underscores crypto market volatility, especially in meme coins, where low liquidity and unexpected actions can cause dramatic effects. Over recent years, chaotic token launches have surged, prompting calls for regulation and transparency. A recent report noted $18.4 million extracted from 53 similar launches on Robinhood Chain. These events have led investors to seek safer assets, while emerging platforms develop advanced analytics tools to identify risks. However, the lack of clear regulatory frameworks remains a major hurdle for sustainable growth. Future oversight and standardization measures are expected to reduce negative incidents and protect consumers.