PANews reported on March 31 that Bloomberg quoted people familiar with the matter as saying that Farcaster developer Merkle Manufactory is about to complete a round of financing led by Paradigm, with a valuation of approximately US$1 billion. Dan Romero, former vice president of Coinbase and co-founder of Merkle, confirmed on March 29 that the startup is raising funds, but did not specify the amount of financing. Merkle Manufactory was founded in 2020. It completed US$30 million in financing in July 2022, led by a16z, and participated by Standard Crypto, Elad Gil, 1confirmation, Scalar Capital, First Round Capital, Volt Capital, Coinbase Ventures, Haystack, Multicoin Capital, Offline Ventures, Archetype, Canonical Crypto, Proof Group, Floodgate, Balaji Srinivsasan, 6529, Ray Tonsing and others.
