Hunter Biden Report Blames Thin Liquidity for LAPTOP…

Published: October 7, 2026 – 23:14 UTC

Hunter Biden has called on an unnamed market maker involved in the launch of his LAPTOP memecoin to buy back and burn tokens after a forensic review found that only about $5,200 of $500,000 supplied before launch was initially deployed into the token’s main liquidity pool.The report, prepared by intelligence consultancy Groom Lake and released on October 7, examined wallet movements, liquidity positions and trading activity surrounding LAPTOP’s September 9 debut on Coinbase’s Base network. It found that unusually limited token inventory and changes in liquidity contributed to a price surge from about $0.05 to $316.75 in less than two minutes before the token fell roughly 98% within its first hour.The report does not identify either of the two market makers involved and does not establish that the firms intentionally manipulated LAPTOP’s price. Biden nevertheless argued that the market maker responsible for the launch problems should repurchase and burn tokens.

Why Was LAPTOP So Easy to Push Higher?

According to Groom Lake, a wallet likely controlled by what the report calls “Market Maker 1” received $500,000 before trading began but deployed roughly $5,244 into its opening liquidity positions.The main automated market maker pool contained only about 29,885 LAPTOP tokens alongside roughly $35,663 of other assets. The token inventory represented approximately 0.003% of LAPTOP’s original 1 billion-token supply.That imbalance made the quoted price exceptionally sensitive to purchases. Groom Lake calculated that a $6.02 buy could raise LAPTOP’s price by 5%, while approximately $7,376 of selling was required to push the price down by the same percentage at that stage of trading.The report compared LAPTOP with 668 other token launches and said none displayed a similar degree of imbalance between upward and downward price sensitivity.The findings provide additional detail to Biden’s earlier explanation for LAPTOP’s launch-day collapse, when he denied selling his allocation and blamed insufficient liquidity and automated sniper bots for the extreme volatility.

Investor Takeaway

LAPTOP’s briefly quoted multibillion-dollar valuation was not supported by equivalent market depth. With fewer than 30,000 tokens in the primary pool, small trades could generate prices that dramatically overstated how much capital holders could realistically extract from the market.

What Happened When Liquidity Was Withdrawn?

Groom Lake said Market Maker 1 withdrew liquidity 84 seconds after LAPTOP reached its peak while selling pressure was already building.According to the report, capital available near the prevailing market price to absorb sellers fell from roughly $16,157 to zero after the withdrawal, worsening the subsequent decline.The report estimated that positions linked to Market Maker 1 finished approximately $686,000 ahead, although some proceeds were subject to arrangements with the party that supplied capital. Separate decentralized-exchange transactions linked by Groom Lake to “Market Maker 2” generated approximately $2.18 million more in USDC receipts than was spent.Those figures represent wallet-level transaction analysis attributed to the market makers by Groom Lake. They should not automatically be treated as final corporate profits because the firms were not identified and the report does not disclose their complete contractual costs, liabilities or off-chain positions.

Investor Takeaway

For newly launched tokens, headline liquidity can be less important than where that liquidity sits and how long it remains available. A market maker withdrawing capital during concentrated selling can sharply change execution prices even when the token’s nominal market capitalization still appears large.

Did Hunter Biden or the LAPTOP Team Sell Tokens?

The forensic review found that the founder allocation had not moved as of October 7. The team controls 300 million LAPTOP tokens, representing 30% of the total supply, held under a six-month lock followed by a two-year linear vesting schedule.That matches the structure published before launch and covered in LAPTOP’s original token allocation. FinanceFeeds also reported shortly after trading began that the token lost around 98% of its peak value during its first hour.The unchanged founder wallet supports Biden’s claim that the founding team did not liquidate its 300 million-token allocation during the crash, but it does not by itself explain every wallet involved in the launch or establish responsibility for the price action.Biden said he had hired Groom Lake to review every transaction associated with launch day and acknowledged responsibility for the outcome despite blaming the execution of the market-making arrangements.

Would a Buyback and Burn Repair the Damage?

Biden has said the market maker he believes mishandled the launch should buy LAPTOP tokens back and permanently remove them from circulation. He has not disclosed the size of any proposed repurchase, and neither unidentified market maker has publicly committed to such an action.The project also plans to burn most unclaimed tokens from its initial airdrop, which accounted for 10% of the total supply. Any burn would reduce available supply but would not reverse trades already completed during the launch or guarantee deeper liquidity in future trading.That distinction matters because LAPTOP’s collapse was primarily a market-structure problem according to the Groom Lake analysis: very little inventory was available at launch, prices rose on minimal buying, and liquidity available to sellers subsequently disappeared.

Investor Takeaway

A token burn can alter supply, but it does not solve the underlying liquidity problem identified in the report. For LAPTOP, the more relevant questions are whether deeper two-sided liquidity can be maintained and whether the project discloses clearer market-making arrangements before attempting to rebuild trading activity.

Source: FinanceFeeds