Farcaster, blockchain’s answer to traditional social media, raised $150 million in a Series A funding round led by Paradigm, sending a community token soaring.
Farcaster community-created token Degen (DEGEN) jumped 17% after the blockchain-based social platform confirmed it raised $150 million in its latest funding round.
The Series A round was led by venture firm Paradigm with participation from Andreessen Horowitz, Haun, USV, Variant and Standard Crypto. Farcaster founder Dan Romero said in a May 21 X post the funds will “support our work on Farcaster for many years.”
Romero, a former Coinbase executive, first hinted at the funding round on Warpcast in March but didn’t share any further details at the time.
