Hunter Biden denies profiting from LAPTOP memecoin following steep price crash

Hunter Biden responds to LAPTOP memecoin price collapse

Following an over 95% crash of the LAPTOP token price within an hour of trading, Hunter Biden faced accusations on X of orchestrating a “rug pull.” Biden denied these claims, stating that neither he nor his team sold any tokens, and that their allocation remains locked. He personally asserted that he did not make any profit from the token.

Biden attributed the sharp price drop to insufficient liquidity and ‘snipers’—automated trading bots that quickly purchase tokens immediately upon trading commencement. The LAPTOP memecoin is named after a MacBook laptop Hunter Biden reportedly left at a repair shop in 2019, a device that became a focal point of political attacks by allies of former President Donald Trump during the 2020 election.

LAPTOP team defends launch and announces liquidity and burn incentives

The project team released a community update clarifying that there was no token presale and no allocations to investors or influencers; all contract details, token allocations, security audit by Hacken, and a white paper were published before trading began. They emphasized transparency, denying any stealth deployments or hidden supply benefiting insiders.

The initial liquidity pool started at $0.05 per token, but liquidity was insufficient to meet demand. To address this, the team plans to deploy 4 million tokens (0.4% of the total supply) as liquidity incentives for Aerodrome pools starting midnight UTC Thursday. Additionally, 10 million tokens (1% of total supply) will be burned within the first week through a predictions program.

Token distribution includes 300 million tokens (30%) allocated to founders, locked for six months with monthly vesting over 24 months afterward; 30% reserved for predictions on political, cultural, and crypto events, with tokens burned or allocated to charity depending on outcomes; 2% reserved for wallets losing money on the TRUMP memecoin; 8% for eligible subscribers to Biden's “Where’s Hunter” Substack newsletter; and 10% set aside for future airdrops at the foundation’s discretion.

Market analytics and holder activity revealed by third-party platforms

Nansen analytics shared with Cointelegraph show that some LAPTOP wallets are recording unrealized losses of up to $117,800 and others unrealized gains, with neither having sold tokens yet at the time of analysis. The data recorded over 46,675 buy transactions and 16,038 sell transactions involving tens of thousands of unique users within 24 hours.

Meanwhile, blockchain monitor Bubblemaps found that 60% of LAPTOP’s top holder wallets were newly created with no prior blockchain activity. Their follow-up categorized “fresh” wallets as those funded within the last 10 days, noting that the majority were funded on launch day.

This indicates a significant influx of new investors attracted to the memecoin despite its highly volatile launch.