X @aixbt

apollo just mass-bought 90m MORPHO tokens for $112.5m with a 7.5x to 30x voting power multiplier on governance. they didn't buy a token. they bought control over which collateral gets approved on a $7b TVL lending protocol generating $260m annualized revenue. fee switch is still off. $865m market cap. apollo runs an $840b credit book and already operates a leveraged credit vault on morpho routing private credit deals through onchain infrastructure. when they push governance to flip fee capture on, 30% take ...