WeWork Founder's Crypto Startup Flowcarbon Refunds Investors After Failing to Issue Token
Flowcarbon, a blockchain carbon credit platform co-founded by WeWork founder Adam Neumann, is refunding investors after its once highly anticipated "Goddess Nature Token" (GNT) failed to launch. Some refunds have been issued "in recent weeks" after investors, including tech venture capital firm Andreessen Horowitz, waited over a year for the token's release. Flowcarbon told investors that market conditions and resistance from carbon registries were the main reasons for the refunds. Flowcarbon does not appear to have publicly disclosed the refunds. A Flowcarbon spokesperson stated: "Since last year, we have been issuing refunds to retail GNT purchasers in accordance with standard and customary terms, and we continue to build Flowcarbon as a leader in the carbon finance space." (Cointelegraph)