The Cardano Foundation reported spending $23.7 million in 2023 across various operational sectors including education and adoption. Out of this total, $19.22 million was allocated to these areas, while $4.55 million was spent on central operating costs. As of December 31, 2023, the foundation held assets valued at $478.24 million, with a majority (82.5%) in ADA, followed by 10.1% in BTC, and the remainder in USD liquidity. Notably, Bitcoin's value increased by 109% since the start of the year, whereas ADA experienced a 9% decline. Frederik Gregaard, CEO of the Cardano Foundation, emphasized the foundation's commitment to transparency and accountability in resource allocation to support the Cardano network as a public digital utility.

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