Cardano Foundation Boosts Spending 15% to $22.1 Million in 2024

The Cardano Foundation, a non-profit organization dedicated to the development and support of the Cardano network, reported a significant increase in its spending on core areas in 2024. The foundation allocated $22.1 million to adoption, operational resilience, and education, marking a 15% rise from the previous year's expenditure of $19.22 million. This information is available on-chain via the Cardano Foundation's Reeve tool.

The bulk of the expenditure, $15 million, was directed towards adoption initiatives. These efforts included partnerships with prominent organizations such as NASA, Barcelona FC, and the United Nations Development Programme. The goal of these collaborations was to expand the real-world applications of the Cardano blockchain, demonstrating the foundation's commitment to driving blockchain technology into practical use cases.

Operational resilience received $3.8 million, which was used to fund enhancements such as the launch of an open-source Cardano.org platform and the introduction of the Inter-Blockchain Communication Protocol. This protocol connects Cardano to over 115 other blockchains, further strengthening the network's interoperability and resilience.

Education initiatives also saw a substantial investment, although the exact amount allocated to this area was not specified. The foundation's efforts in education are aimed at fostering a deeper understanding of blockchain technology and its potential applications, thereby contributing to the growth and development of the Cardano ecosystem.

The foundation's total assets rose to $659.1 million, primarily held in ADA (76.7%), BTC (15%), and cash equivalents (8.3%). The increase in assets can be attributed to the rise in crypto prices, with bitcoin climbing about 120% and ADA adding 42% in value. Despite the increase in the value of its holdings, the share of ADA in the foundation's assets dropped to 77% from 83%.

The foundation's primary income stream comes from staking rewards, which totaled 17.1 million ADA from its 599.2 million ADA holdings in 2024. This represents a return of 2.7%. The foundation's delegation strategy prioritizes stake pools that contribute meaningfully to the ecosystem, reinforcing its role as a responsible participant in Cardano's decentralized infrastructure.

By the end of 2024, the organization employed more than 100 people, reflecting its growth and expanding operations. Frederik Gregaard, the foundation's CEO, emphasized the importance of transparency in resource allocation, stating that sharing not only achievements but also how resources are allocated is fundamental to building trust and ensuring long-term success. This commitment to transparency and responsible stewardship is a key aspect of the foundation's approach to supporting the Cardano ecosystem.