Apollo Global Management signed a cooperation agreement with the Morpho Association allowing Apollo and affiliates to purchase up to 90 million MORPHO tokens (about 9% of the governance supply) over the next four years. Purchases may occur via open-market buys, OTC transactions and other arrangements and are subject to ownership caps and transfer restrictions. The firms will collaborate to support lending markets built on Morpho’s protocol. Galaxy Digital UK was exclusive financial adviser to Morpho. The deal builds on Apollo’s existing blockchain activity and comes as other asset managers test DeFi rails.

Bullish: Apollo committed to buy up to 90M MORPHO (~9% of governance supply) over four years and will support Morpho lending markets; purchases can be open-market or OTC (potential buy pressure). Moderating factors: purchases are subject to ownership caps and transfer restrictions and occur over a multi-year period. Galaxy Digital UK acted as adviser; deal extends Apollo’s prior blockchain activity — all facts from the summary.