Crypto Boosts Telegram Revenue By 190%, $1.3B In Assets Held
Telegram’s cryptocurrency holdings climbed to $1.3 billion in the first half of 2024, up from $400 million at the end of 2023, according to a report by the Financial Times.
The rapid increase marks a threefold rise in the value of its digital assets, supported by profits from selling Toncoin (TON) and a deal related to The Open Network (TON).
The report is based on Telegram’s financial statements and indicates a big portion of the app’s revenue came from digital asset activities, particularly from an “integrated wallet” and the “sale of collectibles,” which together accounted for nearly 40% of the company’s total revenue.
The “integrated wallet” refers to a software feature that enables users to store, send,…
