Hunter Biden, the second son of former U.S. President Joe Biden, released an explanatory video regarding the 98% price crash of his memecoin, based on his 'laptop scandal', just minutes after its launch. He claimed, "The failure of LAPTOP is largely due to the market maker supplying only $5,000 in initial liquidity," adding, "This caused the token price to instantly surge to $316, after which the price was bound to plummet." He further stated, "I prepared this project for six months, and the team's tokens were locked up, so they couldn't be sold. Personally, I didn't earn a single dollar." He concluded, "I will see this project through 100% to the end." According to CoinMarketCap, LAPTOP is currently trading at $0.4283, down 48.54% over the last 24 hours.
