[DigitalToday reporter Jinju Hong] Hunter Biden said the memecoin 'LAPTOP,' which he was involved in, was not a rug pull and released on-chain data.

Cointelegraph, a blockchain media outlet, reported on Oct. 7 local time that he said in a post on X, formerly Twitter, that 300 million tokens in founder-linked wallets have not moved even once since the launch last month.

The dispute is whether the project team sold at the top and exited. Hunter Biden acknowledged that right after the Sept. 9 launch the price chart appeared similar to celebrity rug pulls, but claimed the biggest profits went to two professional trading firms hired by the project. He said those firms withdrew liquidity shortly after the price peaked.

According to the disclosed figures, one firm earned $686,000 from a decentralised exchange liquidity position, and the other took in about $2.18 million more than the amount it put in through trading. A launch report posted on the project website by Groom Lake, an information consulting firm based in Delaware, contained similar content. The report said selling funds exited immediately after the peak, and that Market Maker 1 withdrew funds 84 seconds after the price hit its high. It also specified that cash liquidity available to participants trying to sell around the current price at the time fell from $16,157 to zero.

Hunter Biden also directly explained the background to issuing the token. He said he initially intended to use 5 percent of the total supply for charity, but wrote that a reason he had an incentive to keep the project going was that he "wanted to irritate all the key opinion leaders (KOL) who called it a scam because I refused to pay them, and Don, and Eric." Don and Eric refer to Donald Trump Jr. and Eric Trump.

The name 'LAPTOP' was taken from Hunter Biden’s laptop that became controversial ahead of the 2020 U.S. presidential election. The laptop’s existence and contents drew intense attention during the election, and the U.S. right has repeatedly cited it since. Hunter Biden has also filed a lawsuit related to the laptop over privacy law.

The explanation also intersects with disputes over the Trump family’s crypto business. Hunter Biden criticised the Trump family’s crypto company World Liberty Financial in August as "corruption on a scale we have never seen." President Donald Trump has also faced rug-pull and corruption allegations after launching the memecoin 'Official Trump' (TRUMP) just before taking office in January 2025.

The project also presented follow-up steps. Hunter Biden said founder-held 'LAPTOP' tokens will remain locked for six months after launch. The team said it will continue to burn tokens that are not claimed after the airdrop.

Market attention is shifting back to the Trump memecoin. The operator of 'TRUMP' announced last week that it will hold an evening event on Nov. 22 at the Trump Gold Club in Washington, with the president, three anonymous speakers and 185 top token holders expected to attend. Nonprofit consumer group Public Citizen estimated that 'TRUMP' investors have suffered $3.2 billion in losses since the 2025 launch.

As a result, the latest explanation surrounding 'LAPTOP' is becoming a moment that goes beyond a simple memecoin controversy, again highlighting liquidity structures and conflicts of interest in crypto projects linked to U.S. politics.

A month ago we launched $LAPTOP. Within minutes, we had a chart that looked like every celebrity rug ever. Completely broken. I promised you a full independent accounting. Here it is. 1/