- FCRS Board of Trustees Approves $70M Investment in Two Cryptocurrency Farming Funds
- The management claims that even with the depreciation, the portfolio of digital assets brought the organization a return of 350%
Fairfax County Retirement Systems, a $6.8 billion pension fund from Virginia, intends to invest in crypto asset farming projects. Thus, the organization plans to increase profitability.
Fairfax County Retirement Systems enters the ” pharming ” market. This category includes projects in which users receive additional income through crypto-lending and increasing the liquidity of landing platforms.
The organization intends to invest about $70 million in two such funds – Parataxis Capital and VanEck. FCRS Chief Investment Officer Katherine Molnar noted that this segment looks attractive, as part of it has left “ players ” have left it.
However, this did not happen without reason. Crypto lenders found themselves at the epicentre of the crisis after the collapse of several giant counterparties. In particular, these are the Celsius platforms and Voyager platforms.
Among the investors of the first was, among other things, one pension fund – Caisse de dépôt et Placement du Québec (CDPQ). The organization invested $150 million in the failed project.
But the trustees of the FCRS are not afraid of this. We also note that organizations have invested in cryptocurrency before. According to Molnar, even with a 50% drop, the fund’s portfolio of digital assets returned 350%.