Merkle Manufactory to Refund $180 Million in Venture Funding Amid Farcaster Ownership Change

Merkle Manufactory has announced its decision to return $180 million in venture funding as Farcaster transitions to new ownership. According to NS3.AI, Farcaster has been acquired by Neynar, which plans to shift the platform's focus from a social-first model to prioritizing infrastructure and developer adoption. Despite the change in ownership, Farcaster continues to operate with approximately 250,000 monthly active users and over 100,000 funded wallets. The founding team is stepping back as Neynar takes over the platform's operations.