Hunter Biden on Wednesday released a launch forensics report on the LAPTOP meme coin prepared by Groom Lake, sharply criticizing an anonymous market maker involved in the token’s debut. Biden said the market maker that "botched the launch" should buy back all tokens and burn them. According to the report, a wallet possibly controlled by "Market Maker 1" received $500,000 before launch, yet only about $5,200 was deployed at debut, or roughly 1% of that amount. The report also said all liquidity providers together supplied fewer than 30,000 LAPTOP tokens to the main pool, equal to about 0.003% of the initial 1 billion token supply. With liquidity so thin, the token’s price was highly sensitive to small trades. The report said a single $6 buy order could move the quoted price by about 5%, helping drive sharp swings on launch day when combined with high-frequency early trading and changing liquidity. The findings add to the project’s earlier explanation from last month, when it blamed abnormal price action mainly on sniper bots and insufficient liquidity. As of Oct. 7, the project’s 300 million founder tokens had not moved.
Hunter Biden on Wednesday released a launch forensics report on the LAPTOP meme coin, prepared by Groom Lake, and he openly blasted the anonymous market maker tied to the token’s debut.
Biden said, "The market maker that botched the launch should buy back all of the tokens and burn them." He also said the "biggest winner" in the launch was the market maker.
Report says launch liquidity was extremely limited
The report said a wallet possibly controlled by "Market Maker 1" received $500,000 before the launch. But when trading began, it put up only about $5,200 — roughly 1% of that total.
It also said all liquidity providers together supplied fewer than 30,000 LAPTOP tokens to the main pool. That comes out to about 0.003% of the initial 1 billion token supply.
With liquidity that thin at the start, LAPTOP was easy prey for even tiny trades. According to the report, a single $6 buy order could lift the quoted price by about 5%. Small trade, big move. Mixed with high-frequency early trading and liquidity shifts, that set off sharp price swings on the first day.
Dispute remains centered on market-making execution
The report builds on the project’s earlier account of the failed launch. Last month, the team said the abnormal price action was driven mainly by sniper bots and too little liquidity.
As of Oct. 7, the project’s 300 million founder tokens still had not moved.
So the core fight is still about the market maker’s launch execution, how liquidity was allocated, and whether it improperly profited from the extreme volatility.
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