Farcaster’s parent company plans to return $180M to its VC backers
#MerkleManufactory , whose flagship product is #Farcaster , will return the $180M it had raised from investors. Several investors, including former Coinbase executive Balaji Srinivasan, confirmed the plan in separate posts. The move comes after Farcaster’s acquisition by #Neynar , which will assume responsibility for maintaining the protocol, operating the Farcaster client, and running Clanker.
Farcaster is a protocol that facilitates the creation and connection of social media apps. It operates on a blockchain infrastructure, promoting transparency, security, and decentralization.
Superstate raises $82.5M in a Series B funding round
#Superstate secures $82.5M in a Series B funding round co-led by Bain Capital Crypto and Distributed Global, with participation from Haun Ventures, Brevan Howard Digital, Galaxy Digital, Bullish, ParaFi, 1kx, Flowdesk, Hypersphere, and others. Superstate plans to deploy the new capital to expand beyond tokenized Treasuries and build a broader issuance layer for SEC-registered equities on #Ethereum and #Solana .
Superstate connects financial assets with crypto capital markets to expand access, improve liquidity, and advance capital formation through onchain public listings and tokenized investment products.
#Neynar has acquired #Farcaster , a decentralized protocol designed specifically for building social networks. Following the acquisition, Neynar will take over maintenance of the Farcaster protocol, operate the Farcaster client, and run Clanker. In 2024, Farcaster raised $150M with backing from Paradigm, a16z crypto, Haun Ventures, USV, Variant, Standard Crypto, and others.