WeWork Founder Adam Neumann Struggles with Crypto Venture Refunds
WeWork Founder Adam Neumann's Refunds
WeWork founder Adam Neumann is refunding investors after his climate tech startup, Flowcarbon, experienced a major setback. Over the past month, investors of the ‘Goddess Nature Token’ have been contacted with refund offers, contingent on signing confidentiality agreements. This follows Flowcarbon's struggle to fulfill promises after raising $32 million from prominent investors like Andreesen Horowitz and Samsung Next.
Background on Flowcarbon and Its Ventures
Flowcarbon intended for these tokens to represent carbon credits, a method for companies to offset their greenhouse gas emissions. Major companies, including Tesla, have profited from selling these credits. However, Flowcarbon has now cited market conditions as the reason behind the inability to deliver as promised.
Upcoming Events and Future Prospects
- Flowcarbon’s Carbon Smart Summit is set for later this month.
- Notable speakers include key executives and Congressman Ritchie Torres.
Neumann, who left WeWork after controversy in 2019, has also dropped a substantial bid to regain control of the company.
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