Farcaster to Return $180M to Investors Following Neynar Acquisition
Decentralized social protocol Farcaster will distribute $180 million to investors after its acquisition by infrastructure provider Neynar. Co-founder Dan Romero confirmed the protocol remains operational, serving 250,000 monthly active users with over 100,000 funded wallets. Neynar, a venture-backed startup, plans to prioritize developer-centric enhancements while maintaining network continuity.
Merkle Manufactory, Farcaster's developer, previously raised $30 million from a16z crypto in 2022, followed by a Paradigm-led round. The acquisition transfers protocol governance to Neynar, allowing Romero and Core team members to pursue other ventures. Neynar will oversee contract maintenance and infrastructure scaling, having contributed to Farcaster's tooling since inception.
