{"id":31590,"date":"2022-07-06T05:17:13","date_gmt":"2022-07-06T09:17:13","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=31590"},"modified":"2022-07-06T05:17:21","modified_gmt":"2022-07-06T09:17:21","slug":"virginia-county-fairfax-contributes-35m-to-van-ecks-crypto-lending-fund","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/virginia-county-fairfax-contributes-35m-to-van-ecks-crypto-lending-fund\/","title":{"rendered":"Virginia county Fairfax contributes $35 million to Van Eck’s crypto lending fund"},"content":{"rendered":"\n
Through the asset manager, Fairfax County continues to investigate the realm of yield farming through the VanEck crypto lending fund.<\/h5>\n\n\n\n
\"Virginia
Virginia county Fairfax contributes $35 million to Van Eck's crypto lending fund<\/figcaption><\/figure>\n\n\n\n

Fairfax County in Virginia has started contributing some of a $35 million allocation to a cryptocurrency loan fund run by international asset managers VanEck.<\/p>\n\n\n\n

The company disclosed that Fairfax County\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, which is investing money from two retirement systems into a number of cryptocurrency-focused investment channels, had given it an early tranche of its investment commitment.<\/p>\n\n\n\n

As part of its progressive approach to the cryptocurrency realm, Fairfax County had previously made hints that it would explore the field of Decentralized Finance<\/a> (DeFi) yield farming. From 2018 onward, the county started contributing a limited amount of assets from its Police Officers Retirement and Employees' Retirement Systems to various bitcoin businesses and enterprises.<\/p>\n\n\n\n

With its investment in VanEck's New Finance Income Fund, Fairfax<\/a> has formally entered the realm of DeFi as it continues to diversify its cryptocurrency investment strategy. The fund offers agreements for short-term lending with bitcoin firms, platforms, and businesses.<\/p>\n\n\n\n

The fund lends fiat money and stablecoins to borrowers in the cryptocurrency industry, according to the VanEck website. The fund seeks out accredited investors and demands a $1 million initial deposit. It offers high-yield income exposure to cryptocurrencies. “A streamlined approach that lessens the operational complexity of direct digital assets lending,” the investment manager claims.<\/p>\n\n\n\n

Fairfax County has gradually boosted its investment in the field by allocating money to seven cryptocurrency-related projects<\/a>. One of these allocations includes a hedge fund that plans to use yield farming, basis trading, and exchange arbitrage opportunities to capitalize on market volatility.<\/p>\n\n\n\n

The Employees' and Police Retirement Systems each contributed $10 million and $11 million to Morgan Creek's Blockchain Opportunities Fund, according to a previous update from the County on its bitcoin and blockchain investments.<\/p>\n\n\n\n

As the county gradually assesses the investment possibilities in the alternative asset class, the capital allocation from both funds is less than 1% of their total assets under management.<\/p>\n","protected":false},"excerpt":{"rendered":"

Through the asset manager, Fairfax County continues to investigate the realm of yield farming through the VanEck crypto lending fund. Fairfax County in Virginia has started contributing some of a $35 million allocation to a cryptocurrency loan fund run by international asset managers VanEck. The company disclosed that Fairfax County , which is investing money […]<\/p>\n","protected":false},"author":38,"featured_media":31598,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[10895,9544,10894],"class_list":["post-31590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-lending-fund","tag-fairfax-county","tag-virginia"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/fairfax.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/31590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=31590"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/31590\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/31598"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=31590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=31590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=31590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}