2025 Activity and Financial Insights Report Published On-Chain

[Zug, Switzerland, 2 April, 2026] – The Cardano Foundation, the independent, Swiss-based not-for-profit organization dedicated to advancing Cardano as a public digital infrastructure, today published its 2025 Activity and Financial Insights Report. For the second consecutive year, the Foundation has utilized its reporting transparency platform Reeve to publish its financials on-chain. This year’s report marks an important milestone, with financial statements attested on-chain by Grant Thornton Switzerland.

Pushing beyond potential, the Cardano Foundation expanded its core focus areas from operational resilience, education, and adoption to focus on technology, governance, and adoption in 2025. Key milestones included:

• Financial Transparency: Published audited financial statements on-chain, combining statutory accounting with blockchain native verification
• Startup Support: Partnered with tier-1 global accelerators Draper University, Techstars, CV Labs, and others to support 70+ startups building on Cardano
• Technical Advancements: Launched new products, Reeve and Veridian, released Aiken Standard Library v3.0.0, announced major integrations with Pyth Network, Dune, and Brale
• Ecosystem Progression: Maintained a 100% on-chain voting record, continued to shape the ecosystem governance program and supported the largest on-chain budget in Cardano's history of 275 million ada
• Regulatory Leadership: Engaged with the SEC, FCA, European Parliament, and US Congress to shape the global blockchain landscape
• Global Engagement: Welcomed a total of 4,283 attendees to 6 regional events across the globe, including 1,463 attendees from 74 countries, to the flagship Cardano Summit 2025 in Berlin

"2025 was a groundbreaking year for us. It was the year that decentralized governance became a reality at Cardano,” said Frederik Gregaard, CEO of the Cardano Foundation, “At a time when the ability to trust the data that large institutions hold is fast becoming a basic human right, we are showing the world what transparency looks like. For the first time, we have combined our financial and activity reporting into a single cryptographically verified document, holding ourselves to the highest standards of transparency in our industry. We backed that up with landmark firsts: partnering with Grant Thornton Switzerland for the second time to complete our on-chain audit attestation, and with Memberscap and Archax to launch the world's first tokenized, institutional reinsurance fund.”

Financial Summary

In 2025, the Cardano Foundation allocated CHF 23.6M across its core areas of adoption, technology, and governance. As of 31 December 2025, the Foundation’s assets stood at CHF 287.5 million, comprising 51.6% in ADA, 25.5% in BTC, and 22.9% in cash, cash equivalents, and financial assets.

Read the 2025 Activity and Financial Insights Report here.