Laptop Logic: Hunter Biden Says 300M $LAPTOP Tokens Are Frozen, Not Fled 💻

Hunter Biden, son of former US President Joe Biden, released a full on-chain accounting of the $LAPTOP memecoin he helped launch, confirming that 300 million tokens in wallets tied to the project's founders "haven't moved since launch" and that the token's collapse was driven by professional market makers, not a coordinated rug pull. In a series of X posts on Wednesday, Biden said the price chart "looked like every celebrity rug ever" shortly after the Sept. 9 launch, peaking at about $317 before two hired trading firms extracted liquidity within seconds. Biden's statements echoed a launch report prepared by Delaware-based intelligence consultancy Groom Lake and posted to the memecoin's website, which documented that one market maker, "Market Maker 1," withdrew its money 84 seconds after the price topped out, and that cash available to sellers near the current price fell from $16,157 to zero. According to the Groom Lake review, Market Maker 1 received $500,000 before launch but seeded the main pool with only about $5,200, roughly 1% of its budget, leaving a pool of fewer than 30,000 $LAPTOP tokens, or about 0.003% of the 1 billion total supply, thin enough that a $6 buy could move the quoted price by roughly 5%.

Biden said Market Maker 1 made $686,000 from liquidity positions on decentralized exchanges, while the second firm "took in about $2.18 million more than it spent" through trading, and he demanded that the firms buy back and burn the supply. "The money for sellers was pulled right after the peak," the Groom Lake report said. "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." Biden wrote on X: "Here's why I did this. Trump's coin was max extraction, and I wanted to troll every grift like it. So we were transparent, committed the team to a lock up and published a MiCA disclosure. And I hoped it could help some charities I care about too." He added that he committed 5% of tokens for charity and was incentivized to continue the project "just to piss off Don and Eric," referring to Donald Trump Jr. and Eric Trump, and "every [Key Opinion Leader] who called it a scam because we refused to pay them." He said $LAPTOP founder memecoins will remain locked for six months and the team will continue burning unclaimed airdrop tokens.

The $LAPTOP memecoin takes its name from the laptop computer whose existence and contents drew intense media scrutiny ahead of the 2020 U.S. Presidential election, when Joe Biden ran against Donald Trump, and the device remains a touchpoint for right-wing figures and the subject of two privacy-related lawsuits filed by Hunter Biden. Biden has been a vocal critic of the Trump family's crypto venture World Liberty Financial, calling it "corruption at a scale we've never seen" in August, and President Donald Trump faces separate criticism for launching the Official Trump (TRUMP) memecoin shortly before taking office in January 2025, which has drawn its own rug pull and corruption allegations.