According to CoinMeta, the operator of farcaster, neynar, is looking for a new team to take over the farcaster protocol, as well as the clanker token issuance platform and developer platform. neynar, co-founder rish, stated that the company will return most of the remaining funds from the balance sheet after shutting down the related operations, and the team members will also move on to other projects. The revenue from the farcaster protocol decreased from $35.43 million in the first quarter of 2026 to approximately $377,000 between July 1st and August 17th. neynar took over farcaster from merkle and manufactory in January 2026, but indicated that the current development direction no longer aligns with its own positioning, hence it is seeking a new operator to continue advancing the project.