Recently saw that Morpho's total deposits surpassed $10 billion, with active loans reaching $3.64 billion—and none of this would have been possible without Coinbase's support. Speaking of which, we have to mention Coinbase's on-chain strategy this year. Within its exchange, there's a retail-focused product that merges on-chain and exchange-based lending: Coinbase Onchain Borrow. Essentially, it's a CeFi front-end with a DeFi back-end. Coinbase users see the lending process on the front-end, while the back-end is powered by Coinbase Smart Wallet (CSW), which abstracts the creation of CSW and its interactions with Morpho. Coinbase Onchain Borrow has contributed $1.275 billion in deposits and $653 million in active loans to Morpho, accounting for 11.9% and 17.9% of Morpho's totals, respectively. Also worth mentioning: since the launch of the Base app, the total number of Coinbase Smart Wallet accounts has skyrocketed. Just this month, 350,000 new users joined, pushing the total number of accounts past 1.1 million. When it comes to Smart Wallet strategies, Coinbase is absolutely killing it. Makes you wonder if their Alpha-like trading products will also be based on CSW.