According to BlockBeats, the Ethereum-compatible blockchain IoTeX ecosystem optimized for DePIN has received $50 million in financing. This round of financing was participated by Borderless Capital, Amber Group, Foresight Ventures, FutureMoney Group, SNZ, Metrics Ventures, EV3 and Waterdrip Capital. The IoTeX team said that this investment will drive DePIN's growth and ecosystem adoption by investing in long-term staked IOTX (DePIN tokens that manage and promote IoTeX DePIN), and invest in IoTeX-based DePIN projects together with the IoTeX Foundation and DePINsurf Accelerator Fund.