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Hunter Biden, son of former US President Joe Biden, released a full accounting of the memecoin he helped launch last month based on the reports of his infamous laptop.In a series of X posts on Wednesday, Biden provided blockchain data confirming that 300 million tokens in wallets associated with the founders of the $LAPTOP memecoin “haven’t moved since launch.” Biden added that charts tracking the price of the memecoin “looked like every celebrity rug ever” shortly after launch on Sept. 9, and the ones to benefit most were unnamed market makers — referred to as “two professional trading firms” hired by the project — that pulled their funds seconds after the peak price of about $317. According to Biden’s posts, one market maker made $686,000 from liquidity positions on decentralized exchanges, while the other “took in about $2.18 million more than it spent“ through trading.Similar data was published in a “launch report” prepared by Delaware-based intelligence consultancy Groom Lake and posted on the memecoin’s website.“The money for sellers was pulled right after the peak,” said the report on $LAPTOP. “Eighty-four seconds after the price topped out, Market Maker 1 withdrew its money. The cash available to people trying to sell near the current price dropped from $16,157 to zero.”Biden added:“Here’s why I did this. Trump’s coin was max extraction, and I wanted to troll every grift like it. So we were transparent, committed the team to a lock up and published a MiCA disclosure. And I hoped it could help some charities I care about too.”Data on Hunter Biden memecoin. Source: laptoptoken.comWhile Biden said he intended to commit 5% of the tokens for charity, he added that he was incentivized to continue the project “just to piss off Don and Eric,” referring to Donald Trump Jr. and Eric Trump, sons of US President Donald Trump, and “every [Key Opinion Leader] who called it a scam because we refused to pay them.” The basis for the memecoin’s namesake is Biden’s laptop computer, whose existence and contents were subject to intense media scrutiny ahead of the 2020 US Presidential election, in which Trump was running against his father. The laptop continues to be invoked by many right-wing figures and was the subject of two lawsuits filed by Biden over privacy laws.Related: Hunter Biden’s laptop controversy gets a memecoin afterlifeBiden has been a vocal critic of the Trump family crypto company World Liberty Financial, calling it “corruption at a scale we’ve never seen” in August. The president also faces criticism for launching his memecoin, Official Trump (TRUMP) shortly before taking office in January 2025, which faces its own rug pull and corruption accusations.According to Biden, the $LAPTOP founder memecoins will remain locked for six months after launch and the team will continue burning unclaimed tokens from airdrops.President to host another memecoin event amid controversyBiden’s token, whether launched to hold up a mirror for rug pull projects, a joke, or trolling the Trump family, could shine a spotlight on the president’s crypto ventures as he prepares to speak at another event for his memecoin holders. Last week, the group behind the $TRUMP memecoin announced that the president will appear at his gold club in Washington, DC alongside three unnamed speakers and the top 185 tokenholders for a Nov. 22 dinner. The nonprofit consumer advocacy organization Public Citizen estimated that $TRUMP memecoin investors lost $3.2 billion since its 2025 launch.Magazine: Capital starting to rotate back to crypto from AI: Raoul Pal

Sui’s programmable offchain tunnels reached 40.6 million transactions per second in a live test designed to simulate high-frequency activity between AI agents.Sui said its programmable offchain tunnels processed more than 40 million transactions per second during a live stress test, surpassing a previous record set in July. The test, conducted Wednesday at Sui Basecamp in Singapore, peaked at 40,614,180 TPS, up from about 6.1 million TPS in a similar test in July.The transactions were processed offchain through Sui tunnels, programmable channels that settle to the Sui blockchain when closed. More than 10,000 tunnels were opened on Sui mainnet during the test, with activity spanning payments, games and chat applications.Source: SUI NetworkSui said the tunnels are designed to handle high-frequency activity, including interactions between AI agents, without requiring every transaction to be processed directly onchain.“Sui is built for the moment when millions of AI agents are transacting every day,” said Adeniyi Abiodun, co-founder and chief product officer at Mysten Labs, the original contributor to Sui. He added:No market in the world needs 6 million transactions per second, let alone 40 million: people just don’t move that fast. Agents do.CertiK served as an independent auditor during the demonstration and is reviewing the test data, with a report expected in the coming days.Magazine: Capital starting to rotate back to crypto from AI: Raoul PalCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Tether has signed an agreement with Kazakhstan’s central bank and the Alatau City Authority to explore a tenge-pegged stablecoin and the tokenization of real-world assets.Under the memorandum of understanding, the parties will study international stablecoin issuance models, identify potential use cases and develop a proposal for a tenge-backed stablecoin pilot, according to Tether.The agreement also calls for the development of an asset tokenization framework, including identifying assets for potential tokenization and launching a pilot project in Alatau that could use Tether’s Hadron platform.Tether, the National Bank of Kazakhstan and the Alatau City Authority will also hold workshops and training programs covering stablecoin issuance, reserve management and real-world asset tokenization.National Bank of Kazakhstan Deputy Governor Binur Zhalenov said the central bank plans to study international approaches to stablecoin issuance and tokenization while prioritizing financial stability, transaction transparency and investor protection.Related: Balaji’s Network School turns to Kazakhstan amid Malaysia setbackKazakhstan expands digital asset pushKazakhstan, the world’s largest landlocked country, has accelerated its push into digital assets this year, rolling out initiatives including stablecoins, tokenization, crypto payments and mining.In September, the government approved a 65-measure plan across 10 areas aimed at developing the country’s digital asset industry. The plan includes measures to expand real-world asset tokenization, digital payments, international settlements and crypto mining.The government also instructed the Energy and Digital ministries to develop a mechanism for using gas- and coal-fired power generation to supply mining centers. Kazakhstan ranked among the world’s top 10 countries for Bitcoin production in 2025, according to the government.Kazakhstan’s National Strategic Crypto Reserve, meanwhile, has reached $700 million, while 34 digital asset projects have completed testing in the central bank’s regulatory sandbox, according to the announcement.BitcoinTreasuries.net ranks Kazakhstan seventh among governments in its database for Bitcoin holdings, with an estimated 3,544 BTC worth about $294 million.Source: BitcoinTreasuries.NETMagazine: Capital starting to rotate back to crypto from AI: Raoul Pal

Representative French Hill, who chairs the House Financial Services Committee, said that though US financial regulators were moving forward with addressing digital assets, their actions lacked the long-term stability of legislation from Congress. In a Wednesday Fox Business interview, the Arkansas lawmaker said the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) had taken steps to address crypto regulations after the US Senate failed to pass the Digital Asset Market Clarity (CLARITY) Act last month. Both financial agencies have proposed rulemaking to handle different aspects of overseeing and enforcing crypto regulations, but Hill said their response following the failed CLARITY vote “[fell] short” of legislative solutions.“I still have hope […] that we can get [CLARITY] passed in the lame duck session of Congress,” said Hill. “We need that permanent law change to make sure America is number one in digital assets and blockchain technology.”The Arkansas lawmaker’s comments came after the heads of the SEC and CFTC — Paul Atkins and Michael Selig, respectively — announced plans to move forward with crypto regulation at the direction of US President Donald Trump. Related: Crypto PAC announces support for 32 House candidates in US midtermsAs Hill noted, the Senate would have only 22 days in session between the US midterm elections in November and the next group of lawmakers entering Congress in 2027. During that lame duck session, the results of the elections could play a role in votes favoring or opposing CLARITY, as lawmakers will be aware of whether they will be returning to Congress or leaving in January.Empty commissioner seats at both regulatorsAs of Wednesday, there are a total of seven empty vacancies at the leadership level for the SEC and CFTC. Commissioner Hester Peirce announced her resignation from the former last week, leaving only Chair Atkins and Mark Uyeda. Selig serves as chair and sole commissioner at the CFTC.Magazine: Capital starting to rotate back to crypto from AI: Raoul PalCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy.