
Apollo Global Management, managing $938 billion in assets, deepens its crypto strategy by partnering with Morpho to support decentralized lending, potentially acquiring 9% of the protocol's token supply.
Apollo Global Management entered a strategic cooperation agreement with the Morpho Association to support decentralized lending markets on the Morpho protocol. The deal permits Apollo to acquire up to 90 million MORPHO tokens—approximately 9% of the total supply—over a four-year period through open-market or over-the-counter transactions. This move follows BlackRock’s recent expansion into decentralized finance, highlighting growing institutional participation in on-chain protocols.