Hunter Biden Launches Meme Coin $LAPTOP, Dispels Rumors of Liquidity Withdrawal

On October 8, according to Cointelegraph, Hunter Biden, son of the former U.S. president, launched a MEME token named $LAPTOP, centered on the concept of the former president's laptop that previously sparked media controversy. On Wednesday, Biden published detailed on-chain data analysis, highlighting that none of the 300 million tokens held in the founding team's wallet have been transferred since the project's launch on September 9, directly refuting claims of a "rug pull." He further noted that the founding team has pledged to lock the tokens for six months and is actively burning unclaimed airdrop tokens.

Biden also pointed out that while the founders themselves did not exit, two contracted market makers swiftly profited as the token price reached a peak of approximately $317. Data reveals that one trading firm earned $686,000, while another made roughly $2.18 million in profit. Both firms withdrew their capital within just 84 seconds after hitting the top, leaving subsequent sellers facing zero liquidity. Biden stated that the project was launched to "mock" similar political money-making schemes and is dedicated to supporting charitable institutions through compliant channels.