Hunter Biden Blames Market Maker as $LAPTOP Meme Coin Collapses, Leaving Most Investors in the Red

Former first son Hunter Biden lashed out online after his $LAPTOP meme coin collapsed, blaming a technical failure that left the majority of investors with significant losses, while a single mystery trader walked away with nearly $1 million.

Biden chose the name $LAPTOP as a reference to the controversial laptop that became central to political scrutiny surrounding him and his father, former President Joe Biden. The hard drive, dropped off at a Delaware repair shop in 2019, contained thousands of emails documenting Hunter Biden’s international business dealings, alongside intimate photos and videos that revealed his struggles with cocaine and alcohol addiction, leading to intense congressional scrutiny of both father and son.

Hunter Biden has previously stated that the symbol used to target him has transformed into a symbol of “resilience, redemption and recovery.”

Biden explained that the issues began immediately after trading launched on Wednesday, as the project’s market maker provided significantly less liquidity than required to handle the initial surge of demand.

Former first son Hunter Biden lashed out online after his $LAPTOP meme coin collapsed. (Kevin Dietsch/Getty Images / Getty Images)

“There was a f–k up. The f–k-up occurred in the first 30 seconds of launching the coin, in which the market maker, for some unknown goddamn reason, only put in $5,000 of liquidity. And the demand was through the roof,” Biden said on Friday in a video posted on X.

The project’s thin liquidity pool caused the token’s quoted price to soar from $2.39 to an eye-popping $316 before it ultimately crashed.

Biden noted that his coin’s value was briefly “larger than the market cap of f–kin’ goddamn BlackRock,” adding that the price chart “looked like Mount Everest.” BlackRock’s market cap is upwards of $175 billion.

According to a blockchain analysis by Datavault AI, a mystery trader turned a roughly $250,000 bet into $1.18 million within just minutes, earning approximately $930,000 before transaction costs.

However, other traders were far less fortunate. Blockchain analytics firm Bubblemaps reported that about 80% of traders who bought $LAPTOP on launch day lost money, with more than 15,000 wallets ending up in the red.

One buyer who invested roughly $200,000 when $LAPTOP was near its brief peak was left holding tokens worth only about $2,000 after the collapse, according to Datavault AI.

Four out of five investors suffered losses, while one mystery trader came away with nearly $1 million. (Tom Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)

“This is my f–king token,” Biden said in the video. “I’ve been working on this thing for six months straight.”

“I was intimately involved in every single discussion, every single step of the way in creating the tokenomics, in creating the way in which the coin would be presented,” he continued. “At the end of the day, it’s my responsibility, and there was a f–k-up.”

Biden acknowledged that the situation had stabilized, but conceded that investors had already suffered damage.

“They got it under control, but not before the damage was done,” he stated.

Biden affirmed his commitment to the project, saying he plans to stick with it and repair the damage, though he did not specify whether this involved compensating affected investors.

Hunter Biden said he plans to stick with the project and repair the damage. (Tom Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)

“I am in this to the end 100%, and I promise you that we’re gonna make it right,” he said.

He added that the project is working to increase liquidity and trading volume.

“This isn’t some bulls–t f–king celebrity token where I get on Twitter and say, ‘Oh, I didn’t know about this, and, you know, I’m really sorry,'” Biden emphasized.

Biden also noted that he and his partners had “not made a single dollar” from the project, as they are subject to a six-month lockup period that prevents them from selling their token holdings.

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