Share this article
Fairfax County Pension Fund Invests $70M in Crypto Yield Farming Funds: Report
The Virginia pension fund has a series of crypto investments dating back to 2019.
Updated May 11, 2023, 6:52 p.m. Published Aug 4, 2022, 8:50 a.m.
Make us preferred on Google
Fairfax County, Va.'s $6.8 billion pension fund, the Fairfax County Retirement Systems, has received approval to invest $70 million across two crypto yield farming funds, according to a Financial Times report.
The Virginia pension fund has invested $35 million each in Parataxis Capital’s digital yield fund and VanEck’s new finance income fund, both of which generate income for investors that provide liquidity to specific crypto entities, the report said.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Spearheaded by Chief Investment Officer Katherine Molnar, the $1.8 billion Fairfax County Police Officers Retirement System has made a series of crypto investments in the past alongside the Fairfax County Retirement Systems, which includes a $50 million investment in Morgan Creek's blockchain fund.
Molnar told the FT that potential returns in the yield farming sector are attractive because a lot of market participants have left the space.
The fund did not respond to CoinDesk's request for comment.
Crypto lender Celsius Network imploded in June after using an array of techniques to generate returns for depositing customers, including yield farming, which the company once described as "high risk."
This led to a period of market contagion that saw the likes of crypto broker Voyager Digital and hedge fund Three Arrows Capital fail, with both companies eventually filing for bankruptcy protection.
Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) invested $150 million in Celsius Network before the lender was forced to halt operations.
"A very small portion of our overall portfolio is invested in new technologies, which feature innovative, high-growth companies in riskier sectors that offer the potential for superior returns," a CDPQ spokesperson told CoinDesk last week.
But Fairfax County, part of the greater Washington, D.C., area, remains unperturbed by the market downturn. Molnar said that even in light of a 50% decline in prices, the fund's original crypto investments are up by 350%, the FT report said.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Stablecoins moved $35 trillion last year but only 1% of it was for 'real world' payments
While stablecoins settled around $35 trillion last year, only around 1% of that represented genuine payments like remittances and payroll, a new report found.
What to know:
- Stablecoins processed more than $35 trillion in transactions last year, but only about 1% of that reflected real-world payments, a report by McKinsey and Artemis Analytics found.
- The study estimated that roughly $390 billion in genuine stablecoin payments, such as vendor payments, payrolls, remittances and capital markets settlements.
- Despite rapid growth and increasing interest from traditional payment firms like Visa and Stripe, true stablecoin payments still account for just a tiny fraction of the more than $2 quadrillion global payments market, the report said.
Top Stories
