According to Be In Crypto, BingX Labs announced an investment of $5.3 million to support Bitcoin DeFi and Layer 2 project Babylon, to enhance the security of Bitcoin and the integration of PoS networks. Babylon utilizes a UTXO-based native locking mechanism that allows Bitcoin holders to participate in PoS network staking and earn rewards without transferring assets, while also improving the PoS chain's protection against long-range attacks.