# DeFi lending protocol Morpho completes $50 million in financing
On August 1, 2024, the cryptocurrency lending protocol Morpho announced that it had raised $50 million in a new round of strategic financing, led by Ribbit Capital, with participation from a16zcrypto, Coinbase Ventures and others. Jesse Walden, co-founder of Variant Fund, said that DeFi is the financial infrastructure for a fair Internet, and Morpho has demonstrated strong growth potential and market fit through its innovative lending protocols and general infrastructure.