Hunter Biden Denies Team Cashing Out, Claims Market Makers Caused LAPTOP Token Crash

On October 7, Hunter Biden released the results of an independent investigation into the launch of the LAPTOP token, stating that he had commissioned the forensic firm Groom Lake to verify the transactions on the day of the launch. He denied that his team cashed out, asserting that the founder's tokens remain concentrated in the same wallet and have not moved since the launch; his personal tokens are locked for six months and will be released over two years thereafter. The investigation revealed that Market Maker 1 had a starting capital of $500,000 but only contributed about $5,200 and less than 30,000 tokens to the liquidity pool, which accounted for only 0.003% of the supply. The extremely low liquidity caused the price to surge from $0.05 to about $317 in less than two minutes, followed by a 98% drop within the next hour. After the price peaked 84 seconds later, Market Maker 1 withdrew funds during the sell-off, reducing the available funds to absorb the sell orders from $16,157 to zero. Market Maker 1's DEX position yielded approximately $686,000, while Market Maker 2's related DEX trades netted over $2,100,000. Hunter Biden believes that the market makers responsible for the launch issues should buy back and burn the tokens, stating that he takes ultimate responsibility and will not withdraw from the project. He plans to burn most of the unclaimed tokens from the first airdrop next week, which accounts for 10% of the total supply.

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