Virginia county Fairfax commits $35M to Van Eck crypto lending fund
— Lending, Cryptocurrency lending fund managed, 10 million, Operational burden, Fund lends, Virginia county fairfax, County began investing, Update, County slowly gauges, Crypto — 1 min read
Fairfax County has begun investing a portion of a $35 million allotment into a cryptocurrency lending fund managed by global asset managers VanEck. The county had previously hinted at delving into the world of Decentralized Finance (DeFi) yield farming as part of its progressive attitude towards the cryptocurrency space. Fairfax County began investing a small portion of holdings from its Employees’ Retirement System and the Police Officers Retirement into various cryptocurrency companies and ventures from 2018 onwards. One of these allocations looks to profit from volatility in the space, with a hedge fund intending to leverage yield farming, basis trading and exchange arbitrage opportunities. The County previously issued an update on its investments into the cryptocurrency and blockchain space with the Employees' and Police Retirement Systems investing $10 million Source