Fred Wilson, a well-known Silicon Valley venture capitalist and founding partner of Union Square Ventures, has moved his social account activity from Twitter to Farcaster, according to WuSay. In the past 18 months, Fred Wilson's Twitter account has been dormant, and he has shared his views on Farcaster. Fred Wilson said in 2022 that Twitter is too important and should be decentralized and not owned or controlled by one person. USV led the first round of financing for Twitter in 2007.

Recently, Farcaster announced the completion of a $150 million financing round led by Paradigm.