Farcaster remains live after Neynar acquisition

Farcaster stays live after Neynar’s acquisition. Merkle returns $180M to investors. The founding team steps back as Neynar focuses on developer growth and core services.

Farcaster, a decentralized social networking protocol, will remain operational following its acquisition by Neynar. Merkle, the company behind Farcaster, announced it will return the entire $180 million raised from investors over the past five years, as confirmed by co-founder Dan Romero. Despite speculation about a possible shutdown, Romero clarified that Farcaster is not closing and its core services will continue without disruption. The protocol currently boasts around 250,000 monthly active users and over 100,000 funded wallets. As part of the transition, the founding team will step back, while Neynar will prioritize developer-driven growth and maintain the protocol’s existing architecture. The investor refund is seen as a response to market pressures and aims to reinforce confidence in Farcaster’s future.