Hunter Biden’s $LAPTOP memecoin launch is facing renewed scrutiny after a forensic review of its market-making activity. According to the Groom Lake report, a market maker received $500,000 before launch but deployed only about $5,200 into the initial liquidity pool.
The limited liquidity helped $LAPTOP surge from around $0.05 to $316.75 in less than two minutes before collapsing roughly 98% within the first hour. The report says the market maker then withdrew its liquidity 84 seconds after the price peaked, with cash available to sellers near the market price falling from about $16,157 to zero.
Hunter Biden has denied that his team sold its allocation, saying the 300 million founder tokens remained untouched. He called on the market maker he believes mishandled the launch to buy back and burn the affected tokens, while saying he ultimately takes responsibility for the failed launch.
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The limited liquidity helped $LAPTOP surge from around $0.05 to $316.75 in less than two minutes before collapsing roughly 98% within the first hour. The report says the market maker then withdrew its liquidity 84 seconds after the price peaked, with cash available to sellers near the market price falling from about $16,157 to zero.
Hunter Biden has denied that his team sold its allocation, saying the 300 million founder tokens remained untouched. He called on the market maker he believes mishandled the launch to buy back and burn the affected tokens, while saying he ultimately takes responsibility for the failed launch.
#Laptop #