Hunter Biden has called on market makers involved in the LAPTOP memecoin launch to repurchase and burn the tokens following a steep price surge and subsequent crash. In statements and a detailed launch report released on October 7, 2026, the son of former President Joe Biden rejected claims of a rug pull by the project team and pointed instead to liquidity actions by professional trading firms hired for the debut.

The memecoin, launched on September 9 and named after the laptop that became a focal point of political controversy, saw its price climb from $0.05 to approximately $317 in less than two minutes. It then declined about 98 percent within the first hour of trading.

Forensic Report Details Launch-Day Trading

Biden shared blockchain data and a launch report prepared by Delaware-based intelligence consultancy Groom Lake. The analysis examined the role of market-maker-linked wallets and the liquidity provided at launch. According to the findings, one market maker began with $500,000 in capital yet contributed only about $5,200 and fewer than 30,000 LAPTOP tokens to the liquidity pool.

The report stated that this market maker withdrew funds 84 seconds after the price peak. Available liquidity near the market price dropped from $16,157 to zero while selling was underway. Biden attributed roughly $686,000 in decentralized-exchange gains to that firm from its liquidity positions. A second market maker generated more than $2.1 million in net gains from related trades, with one account placing the figure at about $2.18 million more than it spent.

Biden previously stated that wallets tied to the LAPTOP team had not sold tokens and reiterated that position with new data. He said 300 million tokens in wallets associated with the founders have not moved since launch. His personal allocation remains locked for six months after the debut and is scheduled for release over the following two years.

Call for Buybacks and Project Continuity

In response to the early price action, Biden urged the market makers involved in the launch to buy back the tokens and burn them. He accepted final responsibility for the project, said he will not abandon it, and announced plans to burn most unclaimed tokens from the initial airdrop the following week. The airdrop accounted for 10 percent of the total supply.

Biden framed the token’s launch as an intentional contrast to other high-profile memecoins. He said the charts resembled those of typical celebrity rug-pull patterns shortly after trading began, yet maintained that the project itself operated differently through transparency measures, team lockups, and a published MiCA disclosure.

He indicated an intention to allocate 5 percent of tokens to charity and said he was also motivated to continue the project in part to antagonize Donald Trump Jr. and Eric Trump, as well as key opinion leaders who labeled the token a scam after the project declined to pay them for promotion.

Political Context Surrounding Political Memecoins

The LAPTOP token draws its name from the laptop computer whose contents drew intense scrutiny before the 2020 U.S. presidential election. Biden has publicly criticized the Trump family’s crypto-related activities, including World Liberty Financial, which he previously described as corruption on an unprecedented scale. The Official Trump memecoin, launched shortly before Donald Trump took office in January 2025, has itself faced accusations of extraction and significant investor losses estimated in the billions by one consumer advocacy group.

Organizers of the Trump memecoin have scheduled a dinner for November 22 in Washington, D.C., at which the president is expected to appear alongside top token holders. Biden’s disclosures on LAPTOP arrive amid continued attention on the mechanics and outcomes of politically themed memecoins.

Biden maintained that founder tokens will stay locked according to the stated schedule and that unclaimed airdrop tokens will continue to be burned as part of the project’s supply management.