Hunter Biden defends Meme coin LAPTOP amid its steep plunge, asserting he did not profit from it, and noting the official side will pursue long-term strategic moves to regain narrative control.
54 minutes ago
Former US President Joe Biden’s son Hunter Biden has defended the meme coin LAPTOP following its sharp price plunge, stating that as many have observed, the token saw extreme volatility in its first hours of trading. Headline news has been uniform: the token is down 99%, tied to the “Biden crime family” and similar narratives—none of which are true. The reality is that the liquidity available at launch could not support the massive attention it received, compounded by technical issues and predatory “snipers” who tried to enter ahead of liquidity providers, driving the price up before it settled to a healthy level. The team’s tokens are locked, with no sales, and I personally made no profit from this. I’m already accustomed to traditional and social media trolls distorting reality to fit their own narratives. The token’s fully diluted valuation (FDV) exceeds $1 billion. We are actively exploring optimal solutions to improve liquidity and continue engaging with the community. This journey is far from over; the official team built this community for the long term from the start, and that remains our focus. I will keep doing what I do best: ignore the noise and reclaim the narrative. Per GMGN data, within nearly 12 hours of launch, the meme coin LAPTOP created by Hunter Biden saw its FDV surge past $300 billion at its peak, plunge to $12 billion at one point, and currently trades at $18 billion, marking a roughly 99.4% drop from its peak.
Leading on-chain meme tokens have generally corrected, with MEME, CASHCAT, 4Stock and USELESS all falling.
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