Hunter Biden said a forensic review of the LAPTOP launch found that the token’s collapse was caused by unusually thin liquidity and market-maker activity. A market maker given $500,000 deployed only about $5,200 into the initial pool, creating conditions where just $6 of buying could move the price 5%. The token climbed to about $317 in under two minutes before dropping 98% from its peak in the first hour, with the two market makers reportedly earning profits of $686,000 and $2.1 million in USDC respectively. The review also found that the founder wallet holding 300 million tokens, equal to 30% of the original supply, made no outgoing transfers through October 2.
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