Hunter Biden Says 300M LAPTOP Founder Tokens Never Moved Since Launch

Hunter Biden Publishes LAPTOP Accounting

Hunter Biden published a full independent accounting of the LAPTOP memecoin on Wednesday, October 7, saying the 300 million tokens held in wallets tied to the project's founders have not moved since launch. In a thread posted from his official X account, Biden shared blockchain data meant to rebut accusations that the token, which launched on September 9, was a deliberate rug pull. He conceded that charts tracking the LAPTOP price looked like 'every celebrity rug ever' within minutes of the debut, but placed the blame on the market makers the project hired rather than on insider selling. His stated motive was pointed: he called Donald Trump's Official Trump coin 'max extraction' and said he wanted to troll 'every grift like it.' Biden said the team committed to a lockup, published a MiCA disclosure and hoped the project could help charities he supports. A blunter reason followed: he wanted, in his words, to 'piss off Don and Eric,' the president's sons, along with the paid promoters, known as key opinion leaders, who called the token a scam because the team refused to pay them. The token takes its name from the laptop whose contents fueled a media fight before the 2020 election, a subject of two privacy lawsuits Biden filed.

@HunterBiden · X post

A thread posted from his official X account.

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Thin Pool Set Up the Crash

The accounting itself was prepared by Groom Lake, a Delaware-based intelligence consultancy, and posted as a launch report on the token's website. Its central finding concerns liquidity. The main trading pool held $35,663 against only 29,885 tokens, an imbalance so extreme that a $6.02 purchase lifted the price 5%, while pushing the price down 5% took $7,376 of selling. The report checked 668 other token launches and found buy and sell pressure moving prices almost equally on those, which points the problem at LAPTOP's setup rather than at memecoins generally. On that thin base, the price ran from 5 cents to $316.75 in under two minutes, an implied market cap near $300 billion across 1 billion tokens, before falling 98% within the hour. Market Maker 1 received $500,000 but placed roughly $5,244 into the pool, about 1% of its funding, then withdrew its cash 84 seconds after the peak. Cash available to sellers near the market price dropped from $16,158 to zero. The firm's decentralized exchange positions ended about $685,873 ahead, while trading linked to Market Maker 2 netted roughly $2.18 million. Neither firm is named, and the report grades its own conclusions at moderate confidence.

Burn Plan and the Trump Feud

Biden says he has no intention of walking away from crypto after the failed debut. The founders' 300 million tokens stay locked for six months after launch, then release over two years, and next week the team plans to burn most of the unclaimed tokens from the first airdrop, which covered 10% of total supply. He also wants the market maker he blames for the botched launch to buy the supply back and destroy it, a demand he made in the same Wednesday thread. The feud with the Trump family frames the backdrop. Biden called the president's crypto company, World Liberty Financial, 'corruption at a scale we've never seen' in August. Official Trump has faced rug pull and corruption accusations since its January 2025 launch, the consumer advocacy group Public Citizen estimates TRUMP investors lost $3.2 billion, and the president is scheduled to appear at a November 22 dinner at his Washington, DC golf club alongside the top 185 tokenholders. Biden, meanwhile, said he had intended to commit 5% of LAPTOP tokens to charity and is willing to explain the launch on podcasts, though replies under his thread mocked the episode as an accidental rug pull.

@HunterBiden · X post

A demand he made.

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A Structural Failure, Not a Founders' Exit

Read together, the disclosures shift the argument from intent to market structure. The on-chain record Biden published shows founder wallets untouched, and the Groom Lake report ties the collapse to a pool so shallow that upward moves cost pennies while exits cost thousands. It also illustrates how political tokens differ from operating assets: LAPTOP, like most memecoins, is not backed by real-world assets, offers no futures trading to hedge against, and has no business behind it, nothing like Uber moving riders or DraftKings taking bets, so liquidity design is nearly all that protects late buyers. What stays unresolved is who the two market makers are, whether they face any consequence, and whether this level of transparency changes how celebrity tokens are judged.