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ChainCatcher News, according to market sources, the Arizona Senate has advanced Bill SB 1649, which proposes the establishment of a "Digital Asset Strategic Reserve Fund" managed by the state treasury. The bill authorizes the state treasurer to hold, invest, and lend digital assets that have been seized, confiscated, or surrendered to the state through qualified custodians or regulated exchange-traded products.

Glonghui, February 24｜According to media reports citing sources, Glencore has agreed to purchase nearly 2,000 metric tons of cobalt from industry veteran Weisfisch.

PANews, February 24 – According to the latest crypto weekly report released by a certain exchange, the US Dollar Index remains at a relatively high level, long-term government bond yields are rising, and gold prices have reached a new monthly high, indicating an overall increase in risk-averse sentiment in the market. In terms of crypto assets, last week BTC fell by 1.73%, ETH dropped by 0.42%, but the ETH/BTC ratio slightly rebounded by 1.3% to 0.0287. There was a significant outflow of funds, with BTC spot ETF seeing a net outflow of $315.86 million, and ETH spot ETF a net outflow of $123.37 million. Market sentiment is in the “extreme fear” zone. The overall crypto market capitalization declined on a weekly basis, with most mainstream assets weakening. At the industry level, traditional derivatives trading institutions are advancing arrangements for longer-term crypto product trading, and market infrastructure is evolving towards higher-frequency and more continuous trading mechanisms. Some mining and computing power-related companies are accelerating their diversification into AI and data center businesses, reflecting a trend of reallocation of computing resources. Meanwhile, sports and prediction sectors have attracted a new round of capital attention. In terms of venture capital, a total of 7 deals were disclosed last week, with total financing amounting to approximately $104.5 million, a significant decrease from the previous week. Funds mainly flowed into social and infrastructure sectors, with infrastructure projects accounting for more than half of the deal volume. Overall, under the backdrop of weak market sentiment, capital allocation has become more structural and prudent.