Decentralized finance protocol Morpho Labs has raised $50 million in funding following a recent revamp of its business. The round was led by Ribbit Capital with participation from a16z Crypto, Coinbase Ventures, Variant, Pantera Capital, Kraken Ventures, and other investors. Morpho Labs had previously raised a total of $23.6 million across multiple funding rounds, including an $18 million Series B funding round a16z and Variant in 2022. The funds will be used to support the recently launched Morpho Blue, a permissionless lending protocol that allows entities to create and manage their own mark…