Hunter Biden LAPTOP Memecoin Report Links Crash to Liquidity
- A $6.02 purchase could lift LAPTOP’s quoted launch price by 5%.
- Market-maker-linked activity produced substantial gains during the launch.
- Hunter Biden wants the responsible market maker to buy and burn tokens.
Hunter Biden called for an unnamed market maker to buy back and burn tokens after reviewing the LAPTOP memecoin launch. A Groom Lake forensic report linked the September 9 crash to extremely thin liquidity and intense early trading.
The LAPTOP memecoin jumped from $0.05 to about $317 within two minutes before falling roughly 98% during its first hour.
LAPTOP Memecoin Report Finds Severe Opening Liquidity Imbalance
The report found the main Aerodrome pool opened with about 29,885 LAPTOP tokens and $35,663 in USDC. That token inventory represented about 0.003% of the original one-billion-token supply. As a result, a $6.02 purchase could lift the quoted LAPTOP memecoin price by 5%.
Market Maker 1 received $500,000 before launch but deployed only about $5,200 into the main pool. Groom Lake said the firm withdrew liquidity 84 seconds after the price peak. Cash available near the quoted price then fell from about $16,157 to zero.
The report linked Market Maker 1 liquidity positions to roughly $686,000 in gains. It also attributed about $2.18 million in net USDC receipts to trading linked with Market Maker 2. However, the report did not name either firm and expressed moderate confidence in its overall explanation.
LAPTOP Memecoin Founder Tokens Remain Unmoved After Crash
Biden said the LAPTOP memecoin founders did not sell during the launch turmoil. The designated founder wallet retained all 300 million tokens throughout the review period. Those tokens remain locked for six months before vesting over two years.
Biden accepted responsibility for the launch while criticizing how the market-making arrangements operated. He said the responsible market maker should repurchase tokens and remove them permanently from circulation. No such buyback had occurred when the report became public.
The LAPTOP memecoin team also plans to burn most unclaimed tokens from its initial airdrop. Biden said the airdrop represented 10% of supply, although he did not provide a final burn amount.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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