The Cardano Foundation released its 2023 financial report, highlighting $478M in assets and detailing fund allocation strategies.
Cardano Foundation Assets in 2023
As of December 31, 2023, Cardano Foundation reported holding assets worth $478.24 million. Of this, 82.5% were in Cardano (ADA), 10.1% in Bitcoin (BTC), and the remainder in US dollars, sourced from an initial ADA endowment and ADA vouchers.
Funds Allocation and Operational Costs
The foundation reported allocating $19.22 million across three key focus areas. Operational costs amounted to $4.55 million, enhancing initiative capacity. $2.12 million was spent on operational resilience to improve network reliability for institutional-grade use.
Focus on Education and Adoption
Education received $4.18 million, where the foundation focused on research and regulatory clarity. Key initiatives include the Cardano Academy and the 2023 Dubai Summit. Adoption received $12.92 million, marking it as a major investment area.
Cardano Foundation's 2023 report reflects its commitment to promoting the core areas of activity and supporting the Cardano ecosystem.
