Hunter Biden blames market maker for LAPTOP memecoin crash

Hunter Biden has released a “full independent accounting” regarding the rapid collapse of his LAPTOP memecoin. Following the token's launch on the Base network, the price surged to approximately $401.12 before crashing by roughly 98% within an hour, resulting in significant losses for thousands of investors.

Biden attributed the volatility to the actions of a market maker responsible for buy and sell orders. To investigate the incident, his team hired the forensics firm Groom Lake. According to the report, on-chain data from BaseScan indicates that all founder coins, held in a single wallet, have remained unmoved since the initial launch. Biden stated he holds only a 1% share of the launch pool, valued at $5,200.

On-chain analysis confirms that the linked SafeProxy contract holds 300 million tokens, representing 30% of the maximum supply. While the transfer history shows no outgoing LAPTOP transfers from this specific address, the data does not definitively identify the contract's owners or confirm if all founder allocations are contained within that single wallet.