Hunter Biden denies profiting from memecoin after his LAPTOP crashes
Hunter Biden denied profiting from the LAPTOP memecoin after its launch-day crash, saying no one on his team sold tokens and he personally made “not a single dollar.” He blamed the steep drop on thin liquidity and trading bots (“snipers”). The token fell more than 95% in the first hour, prompting rug-pull accusations. The project said there was no presale, no insider allocations, and that contract details, token allocations, a security audit, and a white paper were published before trading. It said the initial liquidity pool was too small, and it planned additional liquidity incentives and token burns. LAPTOP’s disclosures show founders receive 30% of the 1 billion supply, locked for six months and then vested over 24 months. Other allocations include rewards tied to political and crypto predictions, losses from the TRUMP memecoin, newsletter subscribers, and future airdrops. Blockchain data showed mixed wallet performance, with many top holders being new wallets funded around launch.
