Farcaster Founder Clarifies: Protocol Currently Operating Normally, Home Purchase Funds Came from Coinbase IPO Proceeds

Odaily News: Farcaster founder Dan Romero stated that in response to market rumors, he would like to clarify the following points:

1. Farcaster has no plans to shut down. The protocol is currently operating normally and will continue to run stably in the future. In December last year, its monthly active users reached 250,000, and the number of funded wallets exceeded 100,000. The acquirer, Neynar, is a venture-backed startup planning to shift Farcaster's focus more towards developers.

2. Regarding the Merkle project, we plan to return the full $180 million in raised funds to investors. Over the past five years, we have always strived to manage investor funds prudently.

3. Finally, it needs to be clarified that the funds for my home purchase came from the proceeds of Coinbase's Initial Public Offering (IPO).