Farcaster Co-Founders Dan Romero and Varun Srinivasan Join Stripe’s Tempo Blockchain After Neynar Acquisition

A Major Shift in Crypto: From Social Networks to Stablecoins

In a surprising turn in the blockchain world, Dan Romero and Varun Srinivasan have jumped ship to . This move comes right after their crypto social network, Farcaster, was snapped up by Neynar. It’s big news for anyone watching stablecoins and payments tech.

The duo shared the update on their X accounts. No word yet on their exact jobs at Tempo, but their excitement is clear. Stablecoins could change how we send money worldwide, and these guys want in.

Who Are Dan Romero and Varun Srinivasan?

Dan Romero and Varun Srinivasan started Farcaster back in 2020. It’s a decentralized social platform built on blockchain, aiming to fix issues like censorship on big social media sites. They led it for five years, raising $180 million from investors.

Before Farcaster, both worked at Coinbase, a top crypto exchange. Romero handled consumer growth and global push as VP. Srinivasan led engineering and product teams. Their experience makes them stars in crypto.

The Farcaster-Neynar Deal: What Happened?

Farcaster faced tough times gaining users. Last month, Neynar – a startup making tools for Farcaster devs – bought it. Neynar now controls the smart contracts, code, mobile app, and Clanker, an AI tool for token launches.

Romero, Srinivasan, and Merkle Manufactory staff (Farcaster’s company) stepped back from daily work. Romero even plans to give back all $180 million to investors. A clean exit, setting them free for new adventures.

Enter : A Stablecoin Powerhouse

Tempo is Stripe’s bet on blockchain for stablecoins. Stablecoins are digital dollars pegged to real money, perfect for fast, cheap global payments. Romero tweeted: “Stablecoins are a generational opportunity. I’m excited to work with Matt Huang, Georgios Konstantopoulos and the rest of the team to make them mainstream.”

Srinivasan added: “Tempo is working on the most important problem in finance: building a global payments network that is fast, inexpensive and transparent.”

Backed by Stripe (fintech giant) and Paradigm (crypto VC), Tempo is stacking top talent:

• Dankrad Feist, ex-Ethereum Foundation researcher (joined October).
• Liam Horne, former Optimism Labs CEO.
• Mallesh Pai, Rice University Professor.

Tempo has killer partners: Anthropic, Coupang, Deutsche Bank, DoorDash, Lead Bank, Mercury, Nubank, OpenAI, Revolut, Shopify, Standard Chartered, Visa, Klarna. That’s over a dozen big names ready to use its tech.

Last December, Tempo launched its testnet. Full mainnet comes later this year. Early buzz shows it’s serious about scaling stablecoins.

Why This Move Matters for Blockchain and Crypto

Romero and Srinivasan’s jump to Tempo blends social crypto know-how with payments muscle. Farcaster showed they can build user-focused blockchain apps. Now, they tackle stablecoins – key to crypto going mainstream.

Stablecoins handle billions in transfers daily. They’re faster and cheaper than banks, especially across borders. With Stripe behind it, Tempo could bridge Web2 payments and Web3. Imagine paying anywhere instantly with crypto dollars.

This hire boosts Tempo’s cred. Their Coinbase roots mean they know exchanges and users. Paired with experts like Feist (Ethereum scaling whiz), Tempo eyes real-world use.

What’s Next for Tempo and Stablecoins?

Expect Tempo’s mainnet soon. With this talent and partners, it could rival Solana or Base for payments. Stablecoins grow fast – Tether and USDC lead, but new chains like Tempo bring fresh speed and features.

For Romero and Srinivasan, it’s back to the top. After Farcaster’s ups and downs, Tempo offers a shot at payments revolution. Watch this space – crypto payments might explode in 2024.

Stay tuned for more on blockchain shifts, stablecoins, and Stripe’s crypto play.

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