The Cardano Foundation has released its first Financial Insights Report, revealing that its assets reached $478.24 million as of Dec. 31, 2023. Of this amount, 82.7% is in ADA, 10.1% in Bitcoin, and the rest in USD liquidity. The Foundation’s CEO, Frederik Gregaard, highlighted the report as a testament to Cardano’s open-source philosophy and emphasized transparency as a core value.
The Cardano Foundation plans to release its Activity Report for 2024 in the first quarter of 2025. In 2023, the Foundation allocated $19.22 million to operational resilience, education, and adoption, and $4.55 million to central operational costs. The largest expense, $12.92 million, was spent on driving adoption.
The Foundation’s income comes from staking rewards, with 3.1% return on 668.8 million ADA holdings for a total of 20.9 million ADA.
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