Farcaster, the blockchain-based social platform, has raised $150 million in a Series A funding round, causing a 17% surge in the value of its community-created token, Degen (DEGEN). The round was led by Paradigm and included Andreessen Horowitz, Haun, USV, Variant, and Standard Crypto. Farcaster founder, Dan Romero, stated the funds will be used to support the platform's growth and attract more users. Since October, Farcaster has seen 350,000 paid sign-ups and a 50x increase in network activity. DEGEN is currently trading at $0.023.