Apollo Acquires Stake in Morpho Protocol Amid DeFi Expansion

Apollo Global Management has partnered with Morpho Protocol to acquire up to 90 million of its governance tokens over four years. This represents nearly 9% of the total supply, valued at approximately $940 billion.

The partnership aims to support on-chain lending markets through the development of DeFi infrastructure. Apollo will collaborate with Morpho to build and improve the protocol's lending capabilities.

Morpho's price jumped 17.8% over the weekend following the announcement, rising from around $1.12 to $1.32. The asset remains down 38% over the past 12 months amid broader cryptocurrency market declines.