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    Cardano Foundation’s 2023 financial report shows $478.24 million in assets with major investments in ADA and Bitcoin

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    In 2023, the Cardano Foundation reported assets of $478.24 million, with over 80% in Cardano coins (ADA) and 10% in Bitcoin, supplemented by ADA endowment funds and voucher sales. The Foundation spent $19.22 million on a variety of initiatives including improving platform stability ($2.12 million), promoting education through the Cardano Academy and webinars ($4.18 million), and increasing Cardano adoption ($12.92 million). Frequent operations, the successful testing of network governance, and a hard fork were other notable achievements of the year.

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    In 2023, the Cardano Foundation, a nonprofit group focused on growing the Cardano platform, had around $478 million to its name. They shared their stats on Nov. 13 in a report on their website, giving folks an idea of what they’ve been doing with all that cash – like improving education, boosting Cardano use and enhancing platform stability.

    CEO Frederik Gregaard believes the report shows their dedication to being cagey with their business. Anyway, their finances for 2023 show the Foundation had a sweet $478.24 million in assets. 82.5% of this chunk was in their own Cardano coins (ADA) and 10.1% in Bitcoin (BTC), with the rest in good old US dollars. Where’d all this money come from? Mostly from when Cardano started, with ADA endowment money and ADA voucher sales.

    The $19.22 million outflow was spread across their main goals and they blew $4.55 million on getting stuff done. As for resilience (a fancy word for durability and reliability), $2.12 million went into making Cardano a dependable choice for institutions. Their performance wasn’t too shabby either, with the network running non-stop for over 2,000 days, governance testing at the University of Zurich, and supporting a hard fork called the Valentine.

    Education was a big deal too, taking up $4.18 million of the pie. They’re all about giving people accurate info, supporting blockchain research, and getting businesses on board. They even launched the Cardano Academy and a bunch of webinars, as well as threw a bash at the Cardano Summit in Dubai. Lastly, the spending for promoting Cardano adoption was a biggie at $12.92 million. Certainly, 2023 was a busy year for this crypto foundation.

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