CandleFocus Cardano Foundation Spent $23.7M in 2023: Financial Insights Report
2024-11-13
Author: Content Editor
Cardano Foundation, a not-for-profit organization that supports the Cardano network, released its first Financial Insights Report for 2023. The report revealed that the foundation spent $23.7 million across operations, education, adoption, and central operational costs. As of December 31, 2023, the foundation held $478.24 million worth of assets, with 82.5% in ADA, 10.1% in BTC, and the remainder in USD liquidity. However, ADA has lost 9% of its value while Bitcoin has increased by 109%. The Cardano Foundation aims to advance Cardano as a public digital utility through its transparent and accountable allocation of resources.
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