Morpho token jumps 7.5% after $175M Paradigm-led round

Morpho’s governance token climbed 7.5% after Morpho Association announced a $175 million funding round co-led by Paradigm, a16z crypto and Ribbit. The announcement came as the total cryptocurrency market capitalization fell about 2%.

The association disclosed the financing in a blog post and listed additional participants including Apollo Funds, Circle Ventures, VanEck, Ledger Cathay, Variant, Wintermute Ventures, SBI Group, Bpifrance and more than 10 other partners. The association described the raise as one of the larger funding rounds in decentralized finance and said the capital will deepen technical and commercial integrations with the protocol’s partners.

Morpho’s protocol manages more than $11 billion in deposits and is integrated with major exchanges such as Coinbase, Kraken and Binance. Institutional clients that use the protocol include Bitwise, Galaxy and Anchorage Digital. The association noted this is its fourth institutional capital raise since 2021, with earlier backers including Coinbase Ventures, Pantera Capital and Variant.

Paul Frambot, cofounder of Morpho, wrote in the announcement: “The true value of finance has always been held back by dated infrastructure, fragmented systems, and extractive intermediaries. We started Morpho to change that. We’re building the open credit network for the world, connecting those with excess capital to those who need financing, globally.”

At the time of the disclosure, MORPHO traded near $1.93, reflecting a 24-hour gain of about 7.5% while the wider market declined. The token was down roughly 5.7% over the past week, about 12% over the past month and remained about 54% below its January 2025 all-time high of $4.17.

The association said the funding will support broader adoption and deeper integrations across the lending stack.