Hunter Biden released findings from an independent forensic investigation into the LAPTOP token launch, denying allegations that the team cashed out and attributing the price collapse to market maker activity. The review by Groom Lake confirmed that founders' tokens remain unmoved in their original wallet, while Biden’s personal allocation is locked for six months followed by a two-year vesting schedule.
The investigation identified that Market Maker 1 contributed only $5,200 and fewer than 30,000 tokens to the liquidity pool, representing just 0.003% of total supply. This insufficient liquidity caused the price to spike from $0.05 to $317 in under two minutes before crashing 98% within an hour. Market Maker 1 reportedly profited $686,000 and withdrew funds 84 seconds after the peak, eliminating buy-side support, while Market Maker 2 netted over $2.1 million in related trades.
Biden stated he takes ultimate responsibility and will not abandon the project. He called on the responsible market makers to buy back and burn tokens and announced plans to burn most unclaimed tokens from the first airdrop, which represented 10% of the total supply, next week.
Hunter Biden Blames Market Makers for LAPTOP Token Crash, Denies Team Sell-Off
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