Hunter Biden's notebook reports that market makers earn millions: who are they?
2026-10-08 01:00:03
According to CoinMeta, Hunter Biden's notebook report indicates that in order to maintain the stability of their meme coin, two trading companies earned millions of dollars after a collapse on their launch day. The report points out that the collapse was related to a weak initial pool of traders, high trading volumes in the early stages, and one company withdrawing funds. Biden stated, "We hired the two largest market makers in the industry to avoid such situations and provided them with funds to support bilateral trading." This meme coin was launched on September 9th on the Coinbase network's Base. The main trading pool held only $35,663, but there were only 29,885 tokens, which caused a 5% increase in price for trades worth $6. The report also noted the performance of market makers during the collapse; the first market maker's DEX position ultimately resulted in a profit of about $686,000, while the second market maker made a net profit of over $2.18 million from trading.
Source:BeInCrypto
This content is for market information only and does not constitute investment advice.
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