Balaji Srinivasan's Network School has started running the decentralized social platform Farcaster, Cointelegraph reported on October 16, 2026. Srinivasan founded Network School. According to the report, his goal is to make Farcaster a place for techno-optimists who behave politely.
The change appears to have started with a series of bans. Members of the network have objected to them. The report calls the bans "apparent", so the full details are not yet clear.
The report does not say how many accounts were banned, who was removed or what rules were used. It also does not explain how Network School got control of the platform. Until those details come out, nobody can tell how big the bans were or how far the backlash goes.
For anyone already holding a perpetual futures position on Bitget, Bybit, MEXC or OKX, this changes nothing directly. The report names no token, no exchange and no market. It contains nothing about funding rates, trading fees or liquidity. This is a dispute about who runs a social platform and how, not a change in what it costs to hold a position.
Source: cointelegraph — Balaji’s ‘Singapore of social media’ begins with a wave of bans