The Cardano Foundation has released its first Financial Insights Report, disclosing that its assets totaled $478.24 million as of Dec. 31, 2023, according to a Nov. 13 statement shared with CryptoSlate.

Of the reported assets, the Foundation holds 82.7% in ADA, 10.1% in Bitcoin, and the remainder in USD liquidity. Given the recent market rally, the value of the Foundation’s Bitcoin holdings has reached an estimated $103.7 million.

Cardano Foundation CEO Frederik Gregaard described the report as a testament to Cardano’s open-source philosophy. He emphasized that transparency is at the core of the Foundation’s mission, not just as a concept but as a foundational principle it fully embraces.

The Cardano Foundation plans to release its Activity Report for 2024 in the first quarter of 2025. This report will offer a comprehensive overview of the Foundation’s initiatives and achievements over the past year.

Expenses

The report outlines that the Foundation allocated roughly $19.22 million to three key areas: operational resilience, education, and adoption. An additional $4.55 million supported central operational costs to enhance the Foundation’s capacity and advance significant initiatives.

In the area of Operational Resilience, the Foundation spent $2.12 million to strengthen Cardano’s infrastructure, positioning it as a reliable component for institutional-grade operations. This investment has helped the Cardano network achieve over 2,000 consecutive days of uninterrupted operation.

Additional achievements included launching a block producer, refined stake pool delegation, and ongoing network monitoring.