WeWork Founder Adam Neumann Puts His Eco-Token Mission on Hold

Cryptocurrency startup Flowcarbon focused on issuing tokens backed by carbon credits will stay low and won’t issue any tokens until markets stabilize, the Wall Street Journal has learned, citing the project’s head and co-founder Dana Gibber.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

Co-founded with Adam Neumann, Flowcarbon was focusing on removing carbon-dioxide from the atmosphere through forest planting or conservation. The startup netted $70 million in May this year by pre-selling its token GNT to a group of venture investors, including Andreessen Horowitz and General Catalyst.

Crypto Mining Won’t Lead to Ecological Disaster

It now remains unclear when exactly Flowcarbon plans to resume its roadmap strategy. Gibber admitted that Flowcarbon was initially planning to launch GNT by the end of June, but put that plan on hold indefinitely.

Access more than 50 of the world’s financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Source