TechFlow news — On November 13, according to CoinDesk, the Cardano Foundation released its first financial insights report, disclosing total expenses of $23.7 million in 2023. Of this amount, $19.22 million was allocated to operations, education, and adoption, while $4.55 million covered central operating costs.
As of December 31, 2023, the Foundation held assets valued at $478.24 million, with 82.5% in ADA, 10.1% in BTC, and the remainder in U.S. dollar liquidity. Cardano Foundation CEO Frederik Gregaard stated that the report reflects the Foundation's commitment to open-source principles and transparency, emphasizing accountability in resource allocation. Currently, the Foundation has over 100 employees across 25 countries, dedicated to advancing Cardano as a public digital infrastructure.
