Neynar is looking for a new team to run Farcaster, token launcher Clanker and its developer platform, marking a second ownership transition for the decentralized social protocol in 2026. Co-founder Rish Mukherji said on Aug. 17 that Neynar is in talks with several potential operators and will return what remains of its balance sheet while staff move on. The move follows a sharp deterioration in Farcaster's economics during Neynar's ownership: DefiLlama data cited in the report shows fees falling from $35.43 million in the first quarter of 2026 to $4.67 million in the second quarter and $376,740 from July 1 to Aug. 17. CLANKER token buybacks, tracked as holders revenue, also dropped from $3.98 million in the first quarter to $3,853 in the second and zero so far in the third. Mukherji said Neynar was no longer the right fit for what Farcaster needs next, even though the acquisition had initially appeared aligned with the company's developer-first focus.