Hunter Biden responded on X to sharp price swings in the early trading of the LAPTOP meme coin and to accusations that the launch amounted to a rug pull. He said the token’s debut was hit by insufficient liquidity, technical issues and sniper trading, which pushed the price up quickly before it later pulled back. According to his statement, the token has since stabilized.
Biden also addressed questions around insider selling. He said the team’s token allocation is locked, that no team member sold tokens, and that he personally has not received any profit from LAPTOP. He added that the token’s fully diluted valuation, or FDV, is now above $1 billion.
He said the team is studying ways to improve liquidity and will keep building the community. Biden also commented on the project’s free LAPTOP distribution to users who lost money on TRUMP, saying it was inaccurate to describe that move as a failure and that the project will continue over the long term. GMGN data showed LAPTOP last traded at $1.851.
Hunter Biden, son of former U.S. President Joe Biden, said on X that he did not profit from LAPTOP and that the meme coin’s price has now stabilized after violent moves shortly after launch.
Responding to rug pull accusations, Biden said available liquidity at launch was too limited to absorb market demand. He also cited technical problems and sniper trading as factors behind the token’s rapid rise and later pullback.
On team holdings, Biden said the team’s token allocation is locked and that no team member sold tokens. He added that he personally has not received any gains from LAPTOP.
He said LAPTOP’s fully diluted valuation has climbed above $1 billion. The team is studying ways to improve liquidity and plans to keep working on community development.
Biden also addressed the project’s free distribution of LAPTOP to TRUMP holders who lost money, saying it was not accurate to describe that move as a failure. He said the project will continue for the long term.
According to GMGN data, LAPTOP was last trading at $1.851.
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