Cardano Foundation Reveals $659 Million Treasury In ADA, BTC And Fiat
Main Idea
The Cardano Foundation's 2024 financial report reveals a $659.1 million treasury, primarily in ADA, with significant spending on education, adoption initiatives, and operational resilience.
Key Points
1. The Cardano Foundation's treasury is valued at $659.1 million, with 76.7% in ADA, 15.0% in BTC, and 8.3% in cash and financial assets.
2. In 2024, the Foundation spent $29.2 million, with $22.1 million allocated to education and $7.1 million to legal, governance, and finance.
3. Adoption initiatives received $15 million, funding projects like a NASA tracking tool and partnerships with organizations such as Barcelona FC and the UN Development Programme.
4. Operational resilience efforts cost $3.8 million, including the launch of the open-source Cardano.org stack and network-congestion monitors.
5. The Foundation migrated its 2024 general ledger to Reeve, a blockchain-based reporting tool, enhancing transparency and auditability.
Description
Cardano’s second annual Financial Insights Report lays bare the Foundation’s balance sheet and spending strategy for the first time on-chain, confirming a treasury worth $659.1 million split across ADA, bitcoin and fiat reserves. “As of 31 December 2024, the Foundation’s assets amounted to 659.1 million USD with 76.7% held in ADA, 15.0% in BTC, and the remaining 8.3% in cash, cash equivalents and financial assets,” the report states, adding that the 599.2 million ADA stake produced 17.1 million ...
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