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In its 2023 Financial Insights Report, the Cardano Foundation, a nonprofit focused on promoting the Cardano ecosystem, revealed that it held assets totaling nearly $478 million by the end of the year.
The report offers transparency on how the foundation allocated its resources to key areas such as education, adoption, and infrastructure resilience.
As of December 31, 2023, the foundation’s assets were predominantly held in Cardano’s native token, ADA (82.5%), with smaller portions in Bitcoin (10.1%) and U.S. dollars. These funds primarily stemmed from an initial ADA endowment and ADA voucher proceeds. The foundation also dedicated $19.22 million to its strategic initiatives, including a $4.55 million operational budget aimed at enhancing its organizational capacity.
The report highlighted a $2.12 million investment in operational resilience, which is focused on ensuring Cardano’s infrastructure is robust enough to meet institutional demands. This investment helped the network maintain an uninterrupted operation for over 2,000 days, supported the University of Zurich’s decentralized governance tests, and facilitated the Valentine hard fork.
Education initiatives were also a priority, with $4.18 million allocated to projects aimed at improving regulatory clarity, blockchain research, and enterprise adoption. Key educational initiatives included the Cardano Academy, Cardano Explorer, and the “Let’s Talk” webinar series. Additionally, the foundation’s Cardano Summit in Dubai was part of its education-related expenses. The adoption focus received the largest share of funding, amounting to $12.92 million.