Hunter Biden confirms LAPTOP token ‘not a rug pull,’ just trolling Trumps

Hunter Biden, son of former US President Joe Biden, released a full accounting of the memecoin he helped launch last month based on the reports of his infamous laptop.

In a series of X posts on Wednesday, Biden provided blockchain data confirming that 300 million tokens in wallets associated with the founders of the $LAPTOP memecoin “haven’t moved since launch.”

Biden added that charts tracking the price of the memecoin “looked like every celebrity rug ever” shortly after launch on Sept. 9, and the ones to benefit most were unnamed market makers — referred to as “two professional trading firms” hired by the project — that pulled their funds seconds after the peak price of about $317.

According to Biden’s posts, one market maker made $686,000 from liquidity positions on decentralized exchanges, while the other “took in about $2.18 million more than it spent“ through trading.

Similar data was published in a “launch report” prepared by Delaware-based intelligence consultancy Groom Lake and posted on the memecoin’s website.

“The money for sellers was pulled right after the peak,” said the report on $LAPTOP. “Eighty-four seconds after the price topped out, Market Maker 1 withdrew its money. The cash available to people trying to sell near the current price dropped from $16,157 to zero.”