Cardano Releases First Financial Insight Report Detailing 2023 Expenditures

According to BlockBeats, Cardano released its inaugural financial insight report on November 13, detailing its expenditures in 2023 across operations, education, and adoption. The foundation allocated $19.22 million to these three areas, with an additional $4.55 million spent on central operational costs, bringing the total expenditure to $23.77 million. As of December 31, 2023, the Cardano Foundation's total assets amounted to $478.24 million. Of these assets, 82.5% are held in ADA, 10.1% in BTC, and the remainder in USD liquidity. Notably, TradingView data indicates that since the beginning of the year, BTC has appreciated by 109%, while ADA has depreciated by 9%. CEO Frederik Gregaard highlighted that the foundation currently employs over 100 staff members. Their primary focus is on collaboration with institutions, enterprises, regulators, and policymakers. BlockBeats notes that Cardano (ADA) maintains a market capitalization of $19.2 billion, ranking it as the 10th largest in the cryptocurrency market.