- Fairfax County, Virginia, is in talks regarding investments in крипто funds that use yield farming.
- The county has earlier invested in the blockchain via the Morgan Creek Blockchain Opportunities Fund.
- This would become the first precedent of pension fund money to be indulged in Decentralised Finance (DeFi).
Fairfax County in Virginia is giving thoughts about investments in two крипто funds that utilize yield farming for its pension funds.
Према Блоомберг, the pension funds in the county are considering if the pension fund money should cover the крипто funds that use yield farming.
And if this thought becomes a reality, this would become the first precedent of pension fund money to be indulged in Decentralised Finance (DeFi) and to add liquidity to the Decentralised Exchanges. As of now, there are two крипто funds, particularly being thought of.
The move needs to be approved of, and folks might anticipate a decision in days to come. Katherine Molnar, the CIO of the Fairfax County Police Officers Retirement System, disclosed the development in Los Angeles at the Milken Institute Global Conference.
This is not the first time Fairfax is getting into the крипто sphere. It has invested in blockchain and crypto previously. Its крипто holdings are approximately over 8% of its portfolio.
The Executive director released a note on the agency’s blockchain-related investments, signifying that it had invested in blockchain via the Morgan Creek Blockchain Opportunities Fund.
Molnar further highlighted that Fairfax sees the move as a growth investment. It is not the only traditional contemplation in the DeFi industry. And that Wall Street giants are also giving it a thought.
Jane Street, the trading firm, recently highlighted that it would be utilizing DeFi to borrow крипто. They plan to borrow nearly $25 Million in USDC and then increase it to roughly $50 Million. It plans to borrow funds from Block Tower Capital. Including traditional entities in the modern concept of DeFi is a considerable thing.
This move might prove to be a significant one in the progress of Decentralised Finance (DeFi) as it continues to grow profoundly.
Source: https://www.thecoinrepublic.com/2022/05/04/virginias-fairfax-county-contemplates-investing-pensions-in-yield-farming-crypto-funds/