Telegram Crypto Holdings Surge to $1.3 Billion in H1 2024
Telegram’s cryptocurrency holdings surged from $400 million at the end of 2023 to $1.3 billion in the first half of 2024. This growth was driven by profits from the sale of Toncoin and strategic transactions related to the Open Network (TON). Telegram also reported revenue of $525 million in the first half of 2024, $353 million of which came from cryptocurrency sales. Despite founder Pavel Durov’s legal challenges, the company’s cryptocurrency holdings provide a financial cushion. In addition, Telegram holds a large amount of TON, and its value fluctuates.
