Apollo Global Enters Decentralized Finance with Morpho Protocol Partnership

Apollo Global Management has partnered with Morpho Protocol to acquire up to 90 million governance tokens, representing 9% of the total supply. The $940 billion asset manager will collaborate on DeFi lending infrastructure development over four years.

The partnership will support on-chain lending markets on Morpho's protocol, though specific details were not disclosed. Apollo may purchase tokens through open-market buys, OTC transactions, and other contractual arrangements, subject to ownership caps and trading restrictions.

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