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Home CRYPTO

$478M in Assets: A Look at Cardano’s Finances

Gary Ponce by Gary Ponce
November 14, 2024
in CRYPTO
Reading Time: 3 mins read
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  • Cardano Foundation held $478 million in assets in 2023, with 82.5% held in ADA tokens, 10.1% in Bitcoin, and the rest in U.S. dollars.
  • The foundation allocated $19.22 million across its three key focus areas: operational resilience, education, and adoption.
  • Major initiatives included running the Cardano network without interruption for over 2,000 days, launching the Cardano Academy and Explorer, and contributing to blockchain research and regulatory clarity.

The Cardano Foundation, a nonprofit advancing the Cardano ecosystem, has published its annual financial report providing transparency into how the organization used its funds last year.

Cardano Foundation’s Assets

According to the financial summary, the Cardano Foundation held assets totaling $478.24 million as of December 31, 2023. Of those funds, 82.5% were held in ADA tokens, 10.1% in Bitcoin, and the remainder in US dollars. The assets came from an initial ADA endowment and proceeds from ADA vouchers.

Allocations Across Key Focus Areas

In 2023, the nonprofit allocated $19.22 million across its three key focus areas: operational resilience, education, and adoption. It also spent $4.55 million on operational costs to expand its capacity for advancing initiatives.

Operational Resilience Efforts

The Cardano Foundation spent $2.12 million on efforts to improve the network’s durability, reliability, and recognition as an institutional-grade infrastructure. This included running the network without interruption for over 2,000 days, testing its governance mechanism, and supporting protocol upgrades like the Valentine hard fork.

Education Programs and Research

A total of $4.18 million went towards educational programs like Cardano Academy and Cardano Explorer, contributing to blockchain research, and encouraging enterprise adoption. The foundation also hosted the 2022 Cardano Summit event in Dubai as part of these efforts.

Supporting Cardano Adoption

To drive adoption, the key focus area that received $1.292 million in funding, the foundation worked to provide regulatory clarity, integrate Cardano for institutional use cases, and make the network accessible to enterprises.

The report reflects the nonprofit’s commitment to transparency and its open-source philosophy. By clearly detailing its financial operations and allocation of resources, the organization aims to further the development of the Cardano ecosystem.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: $ADACardanoCardano AcademyCardano ExplorerCardano Foundation
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Gary Ponce

Gary Ponce

Gary has been active in the crypto space since 2019, developing hands-on experience in trading, airdrop hunting, and identifying emerging narratives in low-cap tokens. For over four years, he has contributed research and editorial content with Aiur Labs and BlockNews, focusing on market analysis and community insights. His work reflects both transparency and independent reporting, with an emphasis on simplifying complex ideas for readers. Gary is a long-term believer in Bitcoin, Sui, Hype, Litecoin, XRP, AVAX, and select meme tokens, combining personal trading knowledge with professional editorial standards.

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