WeWork founder Adam Neumann’s crypto startup Flowcarbon has delayed its token launch.
According to the Wall Street Journal’s report, Dana Gibber, one of the founders of the venture, said that the company will wait for the markets to stabilize before launching its products.
Flowcarbon is an initiative that combines cryptocurrencies with carbon credits to create tokens that can be burned by people looking to offset emissions. Although the token is expected to be released at the end of June, it has been postponed to an indefinite date for now.
Arianna Simpson, one of the names that invested in Flowcarbon, stated that they invested with a long-term perspective and said that they were also confident in the market.
Flowcarbon raised $70 million in funding last May.
Cryptocurrency exchange BitMEX delayed the listing of its native token BMEX, citing volatile market conditions.
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