Wintermute is dumping LAPTOP hard!

Crypto market maker Wintermute is offloading a sizeable chunk of its $LAPTOP allocation just hours after the token's launch, adding immediate selling pressure to an already volatile debut.

Wintermute Moves to Sell Its Full Allocation

According to on-chain data cited by @lookonchain, Wintermute received 2.5 million $LAPTOP tokens directly from the project's multi-signature wallet and has already begun distributing them across trading wallets and centralised exchange deposit addresses.

So far, the firm has sold 466,255 tokens for approximately $2.08 million at an average exit price of $4.47 per token. That represents roughly one-fifth of its total allocation offloaded in the opening hours of trading.

On-chain monitoring firm Onchain Lens flagged that Wintermute distributed 2.09 million of its tokens to trading wallets before routing proceeds to centralised exchange addresses, suggesting the sell-down is likely to continue.

Context: A Chaotic Launch for Hunter Biden's Memecoin

$LAPTOP launched on September 9, 2026, on Base, the Ethereum Layer-2 network built by Coinbase, with a total supply of one billion tokens. The project was founded by Hunter Biden and references the controversial laptop that became a focal point of U.S. political debate.

The tokenomics allocate 30% of supply to founders (locked for six months and vested over two years), 20% to a community airdrop targeting, among others, wallets that lost money on Donald Trump's $TRUMP memecoin, and 10% to liquidity provision. Wintermute's 2.5 million token allocation represents part of a broader 23 million token market-making pool that also includes GSR Markets (15.5 million) and G20 (5 million).

It is worth noting that market makers routinely buy and sell inventory across venues to provide liquidity and manage risk exposure. Wintermute's activity does not necessarily represent a directional bet against the asset. That said, when a primary market maker moves quickly to liquidate a team allocation on a token that has already seen its price fall sharply since launch, the impact on retail sentiment can be severe. The token's price dropped nearly 90% from its peak shortly after trading began.

Hunter Biden himself has cautioned buyers against expecting price support from the project team, stating the token is intended as a cultural statement rather than an investment vehicle.

Sources:
Bloomingbit: Wintermute Dumps Hunter Biden Meme Coin LAPTOP, Sells $2.08 Million Worth
PANews: Wintermute has sold 500,000 LAPTOP, earning $2 million
CoinDesk: Crypto traders turn on Hunter Biden's LAPTOP memecoin before it even launches