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- VeChain reports robust financial position, exceeding $440 million in assets.
- Highlights include research collaborations and partnerships driving ecosystem expansion.
- Commitment to advancing blockchain technology for mainstream adoption in 2024.
VeChain Foundation publishes a comprehensive financial report, highlighting a robust financial position exceeding $440 million in assets by the end of 2023. The report underscores VeChain’s commitment to transparency and its pivotal role in shaping the future of blockchain technology.
In continuation of our commitment to transparency over #VeChain’s Treasury and expenses, we are pleased to share the latest financial report, covering both Q3 and Q4 of 2023.
As of 2023 end, we are happy to report a strong financial position of over $440 Million in assets,… pic.twitter.com/HyyXcOzZ38
— vechain (@vechainofficial) March 26, 2024
Throughout the final two quarters of 2023, VeChain experienced substantial growth in its Treasury holdings, reaching $440,061,754.10 by the end of Q4. This financial stability provides a solid foundation for the Foundation’s ongoing initiatives, including marketing expansion, core development, and sustainability efforts.
During the period, VeChain actively engaged in cutting-edge research collaborations, notably with Nobel Laureate Sir Konstantin Novoselov and Professor Qi Ge, focusing on sustainable technologies and innovative blockchain applications. These initiatives demonstrate VeChain’s dedication to pioneering research that elevates blockchain use cases to new sectors.
Additionally, VeChain fostered community involvement through initiatives like the VeChain Improvement Proposal (VIP) Bounty Program, inviting developers to contribute to the VeChainThor ecosystem. Notable partnerships with FRAC, Venum Brazil, SingularityNET, and Vyvo Smart Chain further solidify VeChain’s position in various industries, from fractional asset trading to AI technology and healthcare.
The Foundation’s ecosystem expansion efforts included listing its native tokens, VET and VTHO, on Coinbase, and launching the VeChain Learn Campaign to educate a vast user base about blockchain technology. This resulted in a significant uptick in new addresses, signaling growing interest and adoption of VeChain’s platform.
Looking ahead to 2024, VeChain remains committed to advancing blockchain technology and driving mainstream adoption. With initiatives like MiCa and the Spot Bitcoin ETF on the horizon, VeChain is poised to play a pivotal role in the evolving crypto landscape.
VeChain expresses gratitude for ongoing community support and engagement, emphasizing its dedication to laying the foundations of a new digitized world powered by blockchain technology.
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