# Hunter Biden Blames Market Makers as LAPTOP Token Falls 98% By Sonny Jang Canonical URL: https://www.tokenpost.com/news/people/28417 Published: 2026-10-08T18:49:23.000Z Updated: 2026-10-08T18:49:23.000Z Section: People > LAPTOP’s thin launch liquidity allowed small trades to move its quoted price sharply, while additional project-linked wallet transfers remain unexplained. Hunter Biden blamed two unnamed market makers after LAPTOP’s quoted price jumped from about $0.05 to nearly $317 in under two minutes before collapsing roughly 98%. LAPTOP launched on Base on Sept. 9 with about 29,885 tokens in its main liquidity pool, equal to roughly 0.003% of its 1 billion-token supply. The limited inventory left the market vulnerable to sharp price movements. A wallet labeled “Market Maker 1” received $500,000 before launch but supplied approximately $5,200–$5,244 to opening liquidity. It withdrew liquidity 84 seconds after the price peak, reducing capital available near the prevailing price to absorb sales from approximately $16,157.51 to zero. The wallet’s positions ended approximately $685,873–$686,000 ahead before gas costs, although part of that amount was owed to a capital provider. Activity linked to “Market Maker 2” generated about $2.18 million more in USDC receipts than spending, a wallet-level difference that does not establish confirmed profit. At that stage, a $6.02 purchase could move the quoted price 5%, while a sale of about $7,376 could produce a comparable decline. The launch was compared with 668 other token launches, with no similar imbalance identified. “Within minutes, we had a chart that looked like every celebrity rug ever. Completely broken,” Biden said. He also said, “The biggest winners? The market makers.” Biden said the disclosed founder wallet held 300 million LAPTOP tokens and recorded no outgoing transfers through Oct. 7. That statement covers the identified wallet but does not resolve activity involving other wallets linked to the broader project. Biden previously said [LAPTOP team wallets had not sold tokens](). Dethective identified three additional wallets as having transferred more than 50 million LAPTOP tokens to KuCoin, Gate and Kraken during the two weeks before the investigation was published. Dethective also identified a further transfer of 10 million LAPTOP tokens to Gate on Oct. 2. Those transfers do not establish that the project team sold tokens or received proceeds. “The claims are actually correct,” Dethective said, while adding, “So is Hunter right? In part.” The market makers remain unnamed, and the available findings do not establish intentional manipulation, fraud or a deliberate rug pull. Biden called for the responsible market maker to repurchase and burn the tokens, saying, “I think the market maker who screwed up the launch should buy it all back and burn it.” No buyback or burn has been confirmed. LAPTOP later fell roughly 99% from its launch-day peak. ## Links in this article - [LAPTOP team wallets had not sold tokens](https://www.tokenpost.com/news/people/24216)