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- Morpho token MOPRHO is up about 14%, outpacing most altcoins, according to CoinDesk data.
- Morpho raised $175 million in a funding round.
- Morpho's funding round was co‑led by Paradigm, a16z crypto, and Ribbit Capital.
- Morpho operates an open credit network that allows institutions and fintech firms to build lending products on blockchain rails.
- Morpho's $175 million backing is a bet that all of Wall Street will eventually move credit products onchain.
- Morpho's raise signals that TradFi continues to build for the future regardless of the crypto bear market.
Why it matters: The $175 million infusion benefits Morpho by providing capital to expand its open credit network, while Wall Street firms gain a foothold in on‑chain lending; the funding highlights that institutional investors are willing to back crypto infrastructure even as altcoins like ZCASH and HYPE lose value.
