Hunter Biden Drops Bonkers Attack on the Media to Defend His Meme Coin Wipeout

(AP Photo/Jae C. Hong, File)

Hunter Biden attacked the media for “spinning” a negative narrative about his new meme coin after it tanked just a few hours after launching on Wednesday.

The meme coin $LAPTOP, facetiously named for the laptop debacle that distracted from his father’s presidency, cratered some 95% after launch, from a high of $222.75 all the way down to $1.86.

Biden posted to X, “As you may have seen, the LAPTOP memecoin saw a sharp swing in token price during its first hours of trading. The headlines are all the same. Token down 99%. Rug pull. Biden Crime Family. The list goes on. This is far from the truth.”

The post continued:

The reality is that available liquidity could not sustain the strong level of interest at launch. Technical issues coupled with predatory “snipers”, who seek to beat liquidity providers to market, caused a spike in price, which has since stabilized to healthy levels.

The team’s allocation is locked. Nobody on our side sold, and nobody could have. I, personally, have not made a single dollar.

I’m used to legacy news and social media trolls spinning realities to fit their own narrative.

The fully diluted valuation of the token is over $1 billion. And we’re actively working on the best solutions to optimize liquidity and continue engaging my community.

We gave free tokens to those who lost on Trump’s memecoin.

Somehow the media is painting that as a “failure”.

This journey is far from over. We built this community for the long game, and that’s exactly how we’re playing it. I’m going to keep doing what I do best: ignoring the noise, and reclaiming the narrative.

Biden first announced the meme coin in a Wall Street Journal interview Monday morning, followed by an X post that included a mash-up video of of pundits and Donald Trump himself talking about Hunter Biden’s “laptop from hell.”

The Journal explained the laptop controversy, writing, “The contents of that device, from messages that documented his foreign business dealings to nude photos of the president’s son doing drugs, were eventually laid bare,” the Journal reported. “And the leaks forged a cottage industry of investigations, conspiracies—and digital media content.”

The meme coin was also meant to crypto-troll Trump, with 20% of the $LAPTOP supply being sent “to crypto wallets belonging to people who lost money on $TRUMP, the president’s meme coin,” the report said.

$TRUMP, which is down 97% from its all-time high of $75.35, made the president $600 million, even though nearly a million investors lost a total of $3.81 billion.

CNN senior business reporter Matt Egan warned that although meme coins can be “amusing,” they’re ultimately a “really stupid” investment.

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