Markets
Bearish
Hunter Biden Blames Market Makers for LAPTOP Meme Coin Collapse
Image: Bitcoin.com NewsHunter Biden's LAPTOP meme coin spiked more than 600,000% to roughly $317 in under two minutes before crashing 98% within an hour. A forensic review commissioned by his team found extreme liquidity imbalance and market maker activity drove the collapse. Two market makers linked to the launch recorded roughly $686,000 and over $2.1 million in gains respectively. The token now trades near $0.08, down roughly 99.96% from its peak.
Key points
- A team-commissioned forensic review found extreme liquidity imbalance and market maker activity caused the collapse
- Two market makers linked to the launch recorded roughly $686,000 and over $2.1 million in gains
Why it matters
The incident highlights risks of extreme liquidity imbalance in new meme coin launches. Unanswered questions around unnamed market makers leave traders with limited recourse for losses.
What's unclear
The two market makers named in the report have not publicly responded to the allegations
The independence of the team-commissioned forensic review has not been independently verified
Sources · 2 publishers
CryptoPotato
Tier 2
Hunter Biden Blames Market Maker for LAPTOP Meme Coin Collapse
Coverage timeline
- First reported by Bitcoin.com News
- Confirmed by CryptoPotato
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
