Farcaster, a blockchain-based social media platform, raised $150M in funding led by Paradigm.

Farcaster, a blockchain-based social media platform, raised $150M in a funding round led by Paradigm. The platform plans to use the funds to grow daily active users, add developer primitives like channels and direct messaging, and hire staff-level engineers. Co-founded by two Coinbase alumni, Farcaster supports individual channels and has experienced a 50x increase in network activity since its October launch.