Virginia county Fairfax commits $35M to Van Eck crypto lending fund
Virginia county Fairfax has begun investing a portion of a $35 million allotment into a cryptocurrency lending fund managed by global asset managers VanEck. The firm announced that it had received an initial tranche of the investment commitment from Fairfax County, which is allocating funds from two retirement systems into a variety of cryptocurrency-focused investment […]
Finance Redefined: DeFi protocols lost $1.6B, EU to rethink DeFi approach and more
The past week in the decentralized finance (DeFi) ecosystem saw many new developments from an adoption perspective and protocol developments. The European Commission added a new chapter on DeFi, showing the growing impact of the nascent ecosystem, while a county in the United States State of Virginia wants to put its pension fund in a […]
US Virginia Senate allows state banks to offer crypto custody services
The Senate of Virginia in the United States unanimously approved a bill amendment request that now allows traditional banks operating in the Commonwealth of Virginia to provide virtual currency custody services. Delegate Christopher T. Head introduced the bill (House Bill No. 263) back in January 2022, seeking an amendment to allow eligible banks to offer […]