Hunter Biden says his memecoin is down 99% and that he takes full responsibility for the collapse. In an interview with Altcoin Daily, Biden said the token launched at a $50 million fully diluted valuation, then lost 98% to 99.5% of its value within the first hour after one of its three market makers put just $5,000, roughly 0.003% of the coins at its disposal, into the liquidity pool. He called the deployment grossly negligent, citing an independent investigative report his team received, and promised to make affected holders whole across roughly 6,000 wallets where the median loss was about $34.
Why it matters
The interview is a rare first-person account of a celebrity token launch gone wrong, and Biden framed it explicitly against the wave of political memecoins that preceded it. He said insiders hold only 10% of his coin's supply, 20% went out as a no-strings airdrop, 5% is dedicated to charity, and all founder allocations are locked for a two-year vesting period. Of the 300 million coins held by the founders, he says not a single token has moved on-chain.
The bearish read is the pattern it reinforces: the interviewer noted that every celebrity memecoin so far has trended toward zero, and Biden's coin, whatever its stated tokenomics, is already down 99% within days of launch. Attention-driven assets rarely recover from this kind of first impression.
Market impact
His compensation pledge is the swing factor. Biden says he cannot name the market maker yet due to a confidentiality clause but promises a full detailed report and says he will make holders right "whether it comes out of my hide or wherever it comes from." Whether that happens, and how, will determine if the coin can rebuild any credibility.
Biden also leaned bullish on the broader market, saying he fully believes Bitcoin will hit $1 million and expects that within years rather than decades, while criticizing the Democratic Party's crypto stance as reactionary.
Frequently asked questions
-
What caused Hunter Biden's memecoin to crash 99%?
Biden attributes the collapse to one of three market makers putting only $5,000, about 0.003% of its allocated coins, into the liquidity pool, leaving the launch unable to absorb selling and sniping pressure.
-
How much did holders lose in the memecoin collapse?
According to Biden, roughly 6,000 wallets were affected, with a median loss of about $34 per wallet. He has publicly promised to compensate affected holders.
-
How is Hunter Biden's token structured compared to other celebrity memecoins?
He says insiders hold only 10% of supply, 20% was airdropped with no strings attached, 5% is dedicated to charity, and all founder allocations are locked for a two-year vesting period.
-
Has Hunter Biden sold any of his memecoin holdings?
He says no founder has collected fees or sold, and that none of the 300 million coins held by the founders have moved on-chain, a claim he says is verifiable by anyone.
-
What did Hunter Biden say about Bitcoin's price outlook?
He said he fully believes Bitcoin will hit $1 million and expects it to happen within years rather than decades, calling blockchain one of the most important technologies of the AI era.
CoinTelegraph
Crypto Rank News
Benjamin Cowen
WuBlockchain
Lookonchain
CoinDesk
CryptoSlate
TheBlock