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Hunter Biden Says LAPTOP Memecoin Was Not a Rug Pull, Just Trolling the Trump Family
Hunter Biden has published a full accounting of the $LAPTOP memecoin he helped launch on Sept. 9, saying it was never a rug pull. In social media posts on Wednesday, he shared blockchain data showing that 300 million tokens held by the founders' wallets have not moved since launch. He explained that the price chart looked like a typical celebrity rug pull because two professional trading firms hired by the project pulled their funds seconds after the roughly $317 peak. One earned $686,000 from liquidity positions, while the other took in about $2.18 million more than it spent.
Hunter Biden has published a full accounting of the $LAPTOP memecoin he helped launch on Sept. 9, saying it was never a rug pull. In social media posts on Wednesday, he shared blockchain data showing that 300 million tokens held by the founders’ wallets have not moved since launch. He explained that the price chart looked like a typical celebrity rug pull because two professional trading firms hired by the project pulled their funds seconds after the roughly $317 peak. One earned $686,000 from liquidity positions, while the other took in about $2.18 million more than it spent.
Why Hunter Biden Launched the Token
Biden said Trump’s coin was “max extraction” and he wanted to troll similar grifts, so his team stayed transparent, locked up tokens and published a MiCA disclosure. He planned 5% for charity and admitted that irritating Donald Trump Jr., Eric Trump and influencers who called it a scam also kept him going. Founder tokens stay locked for six months.
Trump Memecoin Dinner and Investor Losses
Meanwhile, the $TRUMP memecoin group says the president will host a Nov. 22 dinner for its top 185 holders, while Public Citizen estimates investors have lost $3.2 billion.
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Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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About the author
8+ years covering crypto markets, macro, and geopolitics. Previously at Decrypt and CoinDesk. Focused on the intersection of digital assets and traditional finance.
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