Hunter Biden Blames Market Maker for LAPTOP Meme Coin Collapse

A forensic review found that as of early this month, the founder wallet still held 300 million LAPTOP with no outgoing token transfers. Hunter Biden has said that a forensic review of the LAPTOP launch found the token’s extreme rise and collapse were caused by unusually thin liquidity and later market-maker activity, while on-chain records showed the founders had not sold their allocation. The account challenges the earlier perception of a rug pull, but the market makers remain unnamed (merely referred to as Market Maker 1 and Market Maker 2), and the investigation was commissioned by the project team. LAPTOP Launch Exposed By Thin Liquidity Biden said Groom Lake reviewed every recorded trade from the launch and found that a market maker given $500,000 deployed only about $5,200 into the initial pool. Fewer than 30,000 LAPTOP tokens were available there, creating a market where just $6 of buying could move the price 5%, compared with about $7,400 of selling needed for the same move. Groom Lake compared 668 other launches and found none with a similar imbalance. LAPTOP then climbed from $0.05 to about $317 in under two minutes before ending the first hour 98% below its peak. Eighty-...