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Farcaster Developer Merkle Manufactory to Return $180M in Venture Funding

Farcaster Developer Merkle Manufactory to Return $180M in Venture Funding

Author:

Global Cryptocurrency

Published:

2026-01-23 09:39:01

11

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BTCCSquare news:

Merkle Manufactory, the company behind decentralized social network protocol Farcaster, announced plans to return $180 million in venture capital to investors. The decision comes as Farcaster transitions to new ownership under Neynar, a startup specializing in Farcaster infrastructure.

Co-founder Dan Romero emphasized Farcaster remains operational with 250,000 monthly active users and over 100,000 funded wallets. "We sought to be responsible stewards of investor capital," Romero stated, addressing speculation about the protocol's future.

The MOVE reflects shifting priorities in crypto-social infrastructure, with Farcaster pivoting from consumer-facing applications to developer tools. Neynar's acquisition signals continued evolution in decentralized social media ecosystems.

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