Technology
Adam Neumann’s Crypto-Returning Firm Reportedly Returns Money to Investors
In a development that can surprise nobody, climate, cryptocurrency and carbon credit startup Flowcarbon, owned by former WeWork CEO Adam Neumann, is outwardly heading for collapse, Forbes reported today.
Buyers of its “Goddess Nature Token,” billed as step one in putting carbon credits on the blockchain, were reportedly contacted about receiving refunds over the past month, conditioned on signing a nondisclosure agreement and waiving claims against Flowcarbon. The company told Forbes that this was “common knowledge” and blamed carbon credit market conditions for the operational delay.
It’s unclear whether the corporate has completed anything since its founding in 2022, or whether larger investors like Neumann’s a16z stalwarts can even see their a reimbursement. (Flowcarbon is different from Flow, one other Neumann company backed by a16z.)