Neynar has launched a process to find a new owner for the decentralized social protocol Farcaster, just seven months after acquiring it from Merkle Manufactory on January 21. The protocol experienced a major economic collapse: fees dropped from $35.43 million in Q1 2026 to $4.67 million in Q2 2026, then to just $376,740 between July 1 and August 17. Neynar will return what remains of its balance sheet and its team will disperse. The CLANKER token trades at $12.29, down 3.6%, with a market capitalization of $12.12 million and only $52,900 in 24-hour volume. Co-founder Rish Mukherji said discussions are ongoing with several potentially interested teams.
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