The Cardano Foundation unveiled its inaugural Financial Insights Report on Wednesday, revealing a total expenditure of $23.7 million in 2023 across various sectors including operations, education, and adoption.

Key Findings:

• The foundation allocated $19.22 million across these sectors while dedicating $4.55 million solely to operational costs.
• As of December 31, 2023, the assets of the Cardano Foundation were estimated at $478.24 million, with a distribution of 82.5% in ADA, 10.1% in BTC, and the remainder in USD.
• Notably, Bitcoin's value surged by 109%, whereas ADA experienced a 9% decline.

Frederik Gregaard stated, "This report represents a natural evolution of our open-source philosophy, where transparency is not merely a concept but a core principle we wholeheartedly embrace."
Translation: "Esto representa una evolución natural de nuestra filosofía de código abierto, donde la transparencia no es solo un concepto, sino un principio fundamental que abrazamos con todo nuestro corazón."

Gregaard emphasized the significance of accountability in resource allocation to further advance Cardano across various industries, as the organization collaborates with over 100 employees worldwide.

The Cardano Foundation was established with an initial endowment of ADA and revenue from ADA vouchers, leveraging these resources to navigate the complexities of the crypto landscape.