Hunter Biden denies profiting from altcoins behind the "laptop door"

Hunter Biden denies the "carpet-pulling" charge: Not profiting from LAPTOP tokens

Hunter Biden denies the claim that he profited from his "LAPTOP" memecoin after the launch of his "LAPTOP" memecoin. The token triggered a wave of selling in the early stages of its launch and attracted widespread allegations of "rug pull"(which refers to a project party running away with money or maliciously smashing the offer). On Wednesday, Biden posted on social platform X that neither he nor his team had sold tokens and emphasized that he had not "personally" made any money from the project.

According to social media reports, the token traded at about US$0.05 in the early days of launch, but the price fell sharply within the first hour, falling more than 95%. As of writing, CoinGecko data shows that LAPTOP is trading at approximately $0.8562.

Core Points

• Denial of sale: Biden denied any token sales, saying his team's token shares had been "locked in" and claimed he took nothing from the LAPTOP project.
• Reason for the collapse: Project parties blamed the early price collapse on lack of liquidity and fast-trading "snipers" activity.
• Transparency Statement: In a public community update, the LAPTOP team stated that no pre-sales were conducted and announced contract details, token allocation plans, audit reports and white papers before the transaction began.
• Disclosure details: Project disclosure documents describe the founder's token allocation, lock-up periods, prediction-based destruction mechanisms, reserves set up to cover losses related to another TRUMP memecoin, and user rewards used to subscribe to Biden's "Where's Hunter" Substack column.
• On-chain data: Nansen tracking data provided to Cointelegraph showed that some selected wallets faced huge unrealized losses and continued liquidity activity; meanwhile, Bubblemaps pointed out that many top holder wallets appeared to be "newly created."

Biden refutes "carpet pulling" allegations

Hunter Biden responded directly to the allegations after violent fluctuations on the day of launch triggered accusations from X users. "The team's token share has been locked in," he said, insisting that "no one on our side is selling tokens," adding that "no one can do it." Biden further claimed: "I personally didn't make a penny."

Biden pointed out two reasons for price fluctuations: lack of liquidity and "sniper robot" activity. In crypto market structures,"sniper robots" usually refer to automated trading programs that attempt to buy quickly on the line, often exacerbating early slip problems and causing sharp price shocks when available liquidity cannot meet demand.

Cointelegraph contacted Biden seeking comment, but did not receive a response.

LAPTOP team explains the launch situation

In addition to Biden's denials, the LAPTOP project also refuted the claim of "covert operations" in a community update posted on Medium. The team claimed that they did not pre-sell tokens or allocate tokens to investors or Internet celebrities in advance. According to the content of the post, relevant information-including contract addresses, token allocation plans, Hacken security audit reports and white papers-was released before the transaction began.

The project parties stated that "there are no hidden deployments, no hidden supplies, and no surprises designed to make insiders profitable." They believe that early market behavior is mainly an execution-level issue, not insiders 'profit.

Specifically, the team stated that the token price in the initial liquidity pool was US$0.05 per coin, but the market maker's liquidity was not enough to cope with demand at the opening-which allowed rapid buying pressure from automated traders to drive sharp market swings.

To address liquidity issues and provide ongoing incentives, the team announced plans to deploy 4 million tokens (0.4% of the total supply) to the Aerodrome liquidity pool as liquidity incentives starting at midnight UTC on Thursday. In addition, the project party said it would destroy 10 million tokens through its forecast plan within the first week of launch, which is equivalent to 1% of the original total supply.

Disclosure Document Overview Allocation, Destruction and Stockpiling

The project clearly demonstrates how supply is expected to be allocated and how certain mechanisms are expected to operate through disclosure documents hosted on designated links.

According to disclosure documents, the founders received an allocation of 300 million coins, accounting for 30% of the total supply of 1 billion coins. The document states that founder tokens will be locked for six months and then vested on a monthly basis (vest) over the next 24 months. The other 30% allocation is tied to predictions of political, cultural and cryptocurrency events. The disclosure document stipulates that when specific results occur, the tokens will be destroyed; if specified conditions are not met, the tokens will be donated to charity. The documents also indicate that destruction related to the forecast could affect unvested tokens.

The remaining reservations described in the disclosure documents include: 2% for wallets that lost money on TRUMP memin transactions, and 8% for eligible subscribers of Biden's "Where's Hunter" Substack newsletter. In addition, the foundation reserves 10% for future airdrops, at the foundation's discretion.

Wallet Analysis: Huge Unrealized Losses and New Holders

While the focus of the debate is whether insiders made sales, blockchain data analysis helps depict the actual behavior of traders during the earliest trading window. Nansen data shared with Cointelegraph on Thursday analyzed five selected LAPTOP wallets.

The snapshot report showed that one LAPTOP wallet had an unrealized loss of $117,800 and the other wallet had an unrealized book loss of $12,300. At the same time, two other wallets showed unrealized gains of $13,100 and $1,800. Cointelegraph pointed out that at the snapshot point, none of the four addresses sold LAPTOP tokens.

Nansen also tracked a broader range of activity over the 24 hours covered by its data: 46,675 buy transactions and 16,038 sell transactions occurred between 20,085 independent buyers and 8,714 independent sellers.

Separately, blockchain analytics company Bubblemaps drew attention to holder behavior in an X post on Wednesday. It said 60% of the wallets of former LAPTOP holders had no previous activity. In follow-up notes, Bubblemaps defined "new wallets" as wallets that have been invested in the past 10 days and noted that most wallets appear to have been invested on the day they launch.

Combining these on-chain observations suggests that the market is dominated by new players rather than long-term holders-consistent with the lively-driven memecoin environment, although the data itself does not confirm who made the transaction or whether the allocation was sold.

As liquidity incentives, predictive destruction and attribution schedules move from announcement to execution, the next key signals for investors and traders will be whether early buyers continue to close positions, how market makers respond in the Aerodrome pool, and whether wallet-level changes are consistent with the "no insider sell-off" narrative.