Cardano Releases First Financial Insight Report: $23.77 Million Invested in Operations and Education for 2023

On November 13th, the Cardano Foundation published its inaugural Financial Insight Report, highlighting significant allocations in operations, education, and adoption for 2023. This comprehensive report indicates an investment of $19.22 million in these three strategic areas, alongside $4.55 million directed towards operational expenses, accumulating a total expenditure of $23.77 million. By year-end 2023, Cardano’s total assets reached $478.24 million, predominantly held in ADA at 82.5%, with BTC making up 10.1%, and the remainder in USD liquidity. According to TradingView data, Bitcoin (BTC) has appreciated by 109% since early January, contrasting with a 9% depreciation of Cardano (ADA). CEO Frederik Gregaard emphasized that the Foundation employs over 100 professionals focused on partnerships with institutions, regulators, and policymakers. Currently, Cardano maintains a market capitalization of $19.2 billion, retaining its position as the 10th largest cryptocurrency.