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Morpho gets $175M backing in ‘open credit network’ challenge to Aave’s lending lead
Jun 9, 2026
< 1 min read
by Hannah Collymore
for CryptoPolitan
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Morpho, a decentralized lending protocol and close Aave competitor, raised $175 million on June 8, 2026 in a round co-led by Paradigm, a16z crypto and Ribbit Capital that values the project at $2 billion. The financing boosts DeFi adoption and Morpho's funding runway for protocol upgrades and liquidity expansion, enhancing its market competitiveness and positive outlook for crypto investment and token-related activity.
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Morpho, a decentralized lending protocol and Aave’s closest competitor, successfully raised $175 million in a new funding round held yesterday, June 8, 2026. The round was co-led by notable investment companies, including Paradigm, a16z crypto, and Ribbit Capital, moving the project’s valuation up to $2 billion. According to cofounder Merlin Egalite’s post on X, this...
