US Virginia Pension Funds Considers Investing in Crypto Yield Farming

Fairfax County, Virginia, is considering investments in two crypto funds that use yield farming for its pension funds. If approved, this would be the first case of pension moCrypto ney to get involved in DeFi. Yield Farming for Pension System Investments According to a report from Bloomberg, pension funds in Fairfax County, Virginia, are considering whether to use pension fund money to invest in crypto funds that use yield farming, the process of using DeFi to maximize returns. Chief Investment Officer of the Fairfax County Police Officers Retirement System Katherine Molnar revealed the development at the Milken Institute Global Conference in Los Angeles on Tuesday. As per Molnar, the system is hoping to fund two new crypto-focused hedge fund managers in the next three weeks. Fairfax has invested in the blockchain and crypto space before. It first put pension fund money into crypto assets back in 2019 with an expected yield of 9%. In total, Fairax’s crypto holdings amount to more than 8% of its portfolio. Fidelity Adds Support for Bitcoin in Retirement Accounts As reported by Cryptoknowmics, Financial giant Fidelity Investments will now allow investors to add Bitcoin (BTC) to their 401(k) retirement accounts later this year and will charge a fee of up to 0.9 percent for it. For now, MicroStrategy, the business intelligence firm, also known as the biggest corporate holder of Bitcoin, has signed up on Fidelity’s new offering to ...