The Cardano Foundation has released its 2023 financial report, outlining its spending across three key areas: adoption, education, and operational resilience. As a non-profit organization, the Cardano Foundation is dedicated to transparency and openness. In 2023, the foundation spent a total of $23.77 million across these three areas, with $2.12 million on operational resilience, $4.18 million on education, and $12.92 million on adoption.
The Cardano Foundation also spent $4.55 million on central operational costs. The operational resilience spending focused on improving Cardano’s infrastructure for institutional-grade use cases, with over 2,000 days of uninterrupted network operation. The Cardano Academy was launched, the Cardano 2023 summit was held in Dubai, and the Let’s Talk Cardano webinar was facilitated.
The education spending was directed toward research, discussion, and providing reliable information to support regulatory clarity. The foundation’s adoption spending focused on creating conditions for increased utility and advanced tooling for new use cases, including launching an open-source programming language for smart contract development.
The Cardano Foundation is committed to scaling the diversity and quality of network activities, ensuring a balanced mix of legacy and blockchain-native use cases. The value of the Cardano Foundation’s assets at the end of 2023 was $478.24 million, with 82.5% in the network’s native token ADA, 10.1% in Bitcoin, and the rest as liquidity in the United States dollar.
Cardano Foundation CEO, Frederik Gregaard, emphasized the importance of accountability and disclosing the allocation of resources to advance Cardano as a public digital utility across various industries. The foundation has over 100 employees working with institutions, businesses, regulators, and policymakers in 25 countries to solve societal and enterprise challenges in new ways.