ccc Fund reportedly invests $70 million in cryptocurrency yield farming funds.

According to a Financial Times story, the Fairfax County Retirement Systems, a $6.8 billion pension system for Fairfax County, has been given permission to invest $70 million in two crypto yield farming funds.
According to the article, the Virginia pension fund invested $35 million in the digital yield fund from Parataxis Capital and the new finance income fund from VanEck, both of which provide income for investors and offer liquidity to certain crypto firms.
The $1.8 billion Fairfax County Police Officers Retirement System, led by chief investment officer Katherine Molnar, has made a number of cryptocurrency investments alongside the Fairfax County Retirement Systems in the past, including a $50 million investment in Morgan Creek’s blockchain fund.

According to Molnar, the yield farming sector has significant prospective returns since many market players have departed the industry.
After using a variety of strategies to increase returns for clients who made deposits, including yield farming, which the business had previously deemed “high risk,” cryptocurrency lender Celsius collapsed in June.
Due to a subsequent phase of market contagion, businesses like cryptocurrency broker Voyager Digital and hedge fund Three Arrows Capital perished and ultimately declared bankruptcy.
Before Celsius Network was forced to cease operations, the Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) invested $150 million in the company.
Fairfax County, however, seems unfazed by the market slump, as Molnar said that despite a 50% drop in price, the fund’s first cryptocurrency investments had increased by 350%, according to the FT story.

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