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TRUMP Crypto market maker Wintermute sold a large number of $LAPTOP positions just hours after the token was launched, exacerbating market volatility.
Crypto asset market maker Wintermute began to sell off its holdings on a large scale just hours after the token $LAPTOP was launched. This move added instant selling pressure to the already volatile debut.
Wintermute begins to liquidate all of its allocated quotas
According to online data cited by @lookonchain, Wintermute received 2.5 million $LAPTOP tokens directly from the project's multi-signing wallet and has begun to distribute them to trading wallets and centralized exchange recharge addresses. So far, the company has sold 466,255 tokens at an average price of US$4.47 per token, making a profit of approximately US$2.08 million. This means that in the first few hours after trading opened, the company had sold nearly one-fifth of its total quota.
Onchain Lens pointed out that Wintermute had distributed 2.09 million tokens to trading wallets before transferring the proceeds to the centralized exchange address, indicating that the selling may continue.
Background: Chaotic listing of Hunter Biden's minocoin $LAPTOP
$LAPTOP will be officially launched on September 9, 2026 on the Ethereum Layer-2 Network Base built by Coinbase, with a total supply of 1 billion tokens. The project was founded by Hunter Biden and its name refers to the laptop that has sparked controversy in U.S. politics.
According to the tokenics model, 30% of the supply is allocated to the founding team (locked in for six months and phased out over two years), 20% is used for community airdrops (targets include wallets that have lost money in Donald Trump's $TRUMP memin), and another 10% is used to provide liquidity. The 2.5 million token quota received by Wintermute is part of a total of 23 million market-making pool that includes GSR Markets (15.5 million) and G20 (5 million).
It is worth noting that market makers often buy and sell inventory between different platforms to provide liquidity and manage risk exposure. Therefore, Wintermute's actions do not necessarily represent a bearish stance on the asset. However, when major market makers quickly liquidate tokens allocated by their teams and the price of the token has dropped significantly since its launch, the impact on retail sentiment can be severe. In fact, the coin price plunged nearly 90% from its peak shortly after the transaction began.
Hunter Biden himself has warned buyers not to expect price support from the project team and said the token is intended as a cultural statement rather than an investment tool.
