The post What’s Inside the Cardano Foundation’s First Financial Report? appeared on BitcoinEthereumNews.com.

On Wednesday, the Cardano Foundation- a not-for-profit entity responsible for developing and maintaining the Cardano network- released its first-ever Financial Insights Report. It detailed how it spent funds in 2023, totaling $19.22 million across operations, education, and adoption. Furthermore, the foundation spent another $4.55 million on its core operational expenses. Cardano Foundation Invests $19 Million in Ecosystem Growth The Cardano Foundation has just released its first Financial Insights Report for 2023, a milestone in its drive for transparency, integrity, and community engagement. The report, along with the Activity Report published earlier this year, outlines how the foundation deployed its funds. It highlights the tangible value created across three focal areas: operational resilience, education, and adoption. The Cardano Foundation’s Financial Insights Report 2023 is here! 📊 This report highlights our commitment to transparency and details investments in operational resilience, education, and adoption to strengthen the Cardano ecosystem. 🌐 Read the report: https://t.co/AzaFHJJlkY pic.twitter.com/U8CYPTft4L — Cardano Foundation (@Cardano_CF) November 13, 2024 The Foundation’s 2023 Financial Insights Report reveals it invested $19.22 million in education, operational resilience, and adoption. Of this, $12.92 million was allocated to adoption, aiming to drive institutionalization and facilitate business integrations for utility. As part of its adoption effort, the foundation released Alken, an open-source programming language to simplify smart contract development on the blockchain. Other initiatives include optimizing rewards for SPOs and working with the United Nations and Switzerland for the ‘Global Climate Challenge’. Year Ends with Nearly $500 Million in Assets The 2023 Financial Insights Report from the Cardano Foundation shows key investments in leading industries, educating with a financial commitment of $4.18 million. These investments further support research and programs that have been instrumental in educating the stakeholders about blockchain technology. The foundation invested $2.12 million in operational resilience, strengthening the blockchain infrastructure for institutional-grade use.…

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Filed under: News - @ November 14, 2024 12:22 am