The Cardano Foundation has released its first financial report for 2023, revealing spending in three key areas: adoption, education, and operational sustainability. 🚀 The largest expenditure — $12.92 million — went to adoption, including developing new solutions and simplifying smart contracts.

Education spent $4.18 million on research and explaining blockchain concepts. Operational sustainability cost $2.12 million to improve the reliability of the network. By the end of the year, the foundation had $478.24 million in assets, of which 82.5% were in ADA.