Review Links LAPTOP Spike to Thin Liquidity

Hunter Biden released a commissioned review of the LAPTOP memecoin’s launch, saying thin liquidity and heavy early trading helped drive a brief price spike that sellers could not readily realize. Biden also called on an unnamed market maker to buy back tokens and burn them, while accepting personal responsibility for the project’s failed launch. The Groom Lake review examined trading after LAPTOP debuted on September 9. It says the main trading pool held fewer than 30,000 tokens, a small fraction of the project’s one billion-token supply. With so few tokens available, a purchase of about $6 could move the displayed price by roughly 5%, the review found. LAPTOP rose from about $0.05 to roughly $317 in less than two minutes, then fell nearly 98% within its first hour. The review’s findings indicate that the peak price did not mean holders could sell substantial amounts at that level: available cash to support sales near the quoted price was limited. According to the review, a wallet attributed to Market Maker 1 withdrew funds 84 seconds after the peak. Cash available near the selling price then fell from about $16,157 to zero.