Suspected insider wallet bought NYC early but still lost nearly $500K, sparking information leak concerns According to Bubblemaps, an address funded from Kraken and bought the token 10 minutes before the NYC contract was announced, suspected to be an insider. Although it once had a floating profit of $250K, it ultimately lost $477K due to not selling in time. NYC was launched by former New York City Mayor Eric Adams, reaching a peak market cap of $600M. The team later removed $2.5M in liquidity, causing the token price to plummet by 70%.