Morpho Association has raised $175 million in a round co-led by Paradigm, a16z Crypto, and Ribbit Capital, with Apollo Funds and VanEck among the strategic participants. The round, which values Morpho at $2 billion, is among the largest fundraises in DeFi history.
Circle has launched cirBTC on Ethereum, allowing institutions and BTC holders to deploy bitcoin as collateral in decentralized finance ( DeFi) markets without selling their underlying position. What cirBTC Is Every cirBTC token is backed 1:1 by native bitcoin. The underlying BTC is held at a regulated Circle entity and kept separate from the company’s […]
Crypto investment firm Paradigm has urged the U.S. Federal Deposit Insurance Corporation to remove provisions from its proposed stablecoin framework that could restrict third-party firms from offering rewards tied to stablecoins. According to a comment letter submitted to the FDIC,…
Cardano’s total value locked dropped close to 30% in June, sliding from $129 million to $92 million — a fall that closely tracks ADA’s own price decline of 27% over the same stretch. Yet one platform inside the ecosystem is pushing back hard against the idea that the network is finished. DexHunter, a Cardano-based DEX aggregator, took to X to argue that the blockchain is more alive than ever, citing a sharp spike in trading activity as proof that user engagement remains strong despite ADA’s price weakness. Related Reading: Security Milestone: XRP Lending Protocol Completes Military-Grade Assessment A Surge, Then A Pullback Daily DEX trading volume on Cardano shot up from roughly 6 million ADA to 25 million ADA across four days, one of the steepest volume increases in recent months. DexHunter attributed that spike to heavy trading in tokens including NIGHT, STRIKE, and SNEK, as well as stablecoins such as USDCx. Volume has since retreated to around 7.45 million ADA, down 11% in the most
Morpho, a decentralized lending protocol operating on Ethereum, HyperEVM, and other blockchains currently holding $6.6 billion in total value locked, has raised $175 million in a funding round led by Paradigm, Ribbit Capital, and Andreessen Horowitz’s digital assets arm a16z crypto — valuing the protocol at up to $2 billion and positioning it for an eventual public debut as its founders set their sights on bringing Wall Street’s most traditional institutions into DeFi, according to Fortune’s report published June 9. Related Reading: The XRP Dream Has Changed: Why A Rally To $10 Could Happen Despite Disappointment The round also drew participation from Apollo Funds, Circle’s venture unit, and VanEck — a coalition of backers that spans crypto-native venture capital, traditional asset management, and institutional finance simultaneously. The investment was structured in cryptocurrency and priced at the token’s average monthly price, with the exact cost varying by when participants contrib