A $6.8bn Virginia pension fund is looking to boost its returns by investing in crypto lending markets despite a crisis in the sector that has pushed several companies into bankruptcy and left retail investors with heavy losses.
The Fairfax County Retirement Systems recently gained approval from its board of trustees to begin investing in “yield farming” in which investors lend out their digital tokens to crypto projects in return for a fixed stream of payments.
“Some of the yields that you’re able to achieve in a yield farming strategy are really attractive because some of the people have stepped back from that space,” Katherine Molnar, chief investment officer of the Fairfax County Police Officers Retirement System, said in an interview.
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