Hunter Biden denies profiting from memecoin after his LAPTOP crashes

Hunter Biden disputed that he or his team profited from the LAPTOP memecoin after the token lost most of its value on launch day. In posts on X, Biden said the team’s allocation was locked, that nobody on their side had sold, and that he had personally "not made a single dollar." He attributed the dramatic price decline to limited liquidity and to "snipers," trading bots that rapidly buy tokens when trading opens.

The LAPTOP project pushed back against accusations of a rug pull in a community update, saying there was no presale or hidden allocations and that the contract address, token allocations, a Hacken security audit and a white paper were published before trading began. The team said the initial pool started at $0.05 per token but that market maker liquidity was insufficient to meet demand. To shore up liquidity, it announced plans to deploy 4 million tokens (0.4% of supply) as incentives for Aerodrome pools and to burn 10 million tokens (1% of supply) via a predictions program within the first week.

Third-party analytics painted a mixed picture of early holders and unrealized positions. Nansen shared data showing one wallet with an unrealized loss of $117,800 and another with a paper loss of $12,300; two other tracked addresses showed unrealized gains. Nansen’s 24-hour snapshot covered five selected wallets and, more broadly, recorded 46,675 buy transactions and 16,038 sell transactions involving 20,085 unique buyers and 8,714 unique sellers.

Blockchain analytics platform Bubblemaps said about 60% of the token’s top-holder wallets had no prior on-chain activity, defining ‘‘fresh’’ wallets as those funded within the previous ten days and noting that most were funded on launch day. The project’s disclosures also show allocations for predictions (30% of supply), a 2% reserve for TRUMP memecoin losers, 8% for eligible newsletter subscribers, and 10% set aside for future airdrops. Cointelegraph reported that Biden did not respond to a request for comment.