Morpho's $175M raise shows where crypto VC money is flowing

Morpho raised $175 million in a round led by Paradigm, a16z crypto, and Ribbit Capital to build credit infrastructure for banks and fintechs. The protocol holds $6.72 billion in total value locked and $3.47 billion in active loans. Coinbase used Morpho smart contracts to originate over $2.17 billion in corporate USDC loans.