Hunter Biden said an independent review into the LAPTOP token launch found no team cash-out and pointed instead to market-making activity during the token’s debut. According to the findings he cited, forensic firm Groom Lake reviewed all trading on launch day.
Biden said founder tokens remain in the same wallet and have not moved since launch. He also said his personal allocation is locked for six months and will then vest over two years. The review said Market Maker 1 had $500,000 in starting capital but supplied only about $5,200 and fewer than 30,000 tokens to the liquidity pool, equal to 0.003% of total supply. Under that setup, the token price jumped from $0.05 to about $317 in less than two minutes, then fell 98% within an hour.
He added that 84 seconds after the peak, Market Maker 1 removed funds during the sell-off, taking near-market bid support from $16,200 to zero. Biden said Market Maker 1 made about $686,000 on its DEX position, while Market Maker 2 cleared more than $2.1 million in net profit from related DEX trades. He said the market makers responsible should buy back and burn tokens, and added that he will stay with the project and plans to burn most unclaimed tokens from the first airdrop next week.
Hunter Biden has published what he described as the findings of an independent investigation into the LAPTOP token launch, saying he hired forensic firm Groom Lake to review all trades executed on the day the token went live, according to a market update cited by ChainCatcher.
Biden denied that his team cashed out. He said the founder allocation remains in a single wallet and has not been moved since launch. He also said his personal tokens are locked for six months and will then be released over a two-year period.
Citing the investigation, Biden said Market Maker 1 had $500,000 in starting capital but supplied only about $5,200 and fewer than 30,000 tokens to the liquidity pool. He said that token amount accounted for just 0.003% of total supply. With liquidity that thin, LAPTOP rose from $0.05 to about $317 in under two minutes, then dropped 98% within an hour.
He also said that 84 seconds after the price peak, Market Maker 1 pulled funds during the sell-off. That reduced the amount of capital near the current price available to absorb selling from $16,200 to zero.
According to Biden, Market Maker 1 made about $686,000 from its DEX position, while Market Maker 2 booked more than $2.1 million in net profit from related DEX trades. He said the market makers responsible for the launch issues should buy back and burn the tokens.
Biden said he will take ultimate responsibility and will not leave the project. He added that he plans to burn most unclaimed tokens from the first airdrop next week. That airdrop accounted for 10% of the total supply.
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