Fairfax County Intends To Put Pension Fund Money In Two Crypto Funds
04 May 2022 13:34, UTC
Fairfax County, Virginia is considering placing pension fund money in two crypto funds that use an investment strategy known as yield farming.
The system's CIO Katherine MOLNAR said on Tuesday that the system aims to fund two digital asset-focused hedge funds within the next three weeks. A decision will be made in the next few days that, if approved, will be the first use of pension fund money in DeFi.
Fairfax County was one of the first U.S. counties to invest pension money in crypto-related investments in 2019. Molnar expects that the investments under consideration will provide profitability at least 9%. Fairfax's cryptocurrency-focused investments account for more than 8% of the portfolio, she said.
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