Telegram holds $1.3B in crypto assets as of the first half of 2024

Telegram has revealed in unaudited financial statements that the total value of its crypto holdings increased from nearly $400 million in late 2023 to $1.3 billion as of the first half of 2024, Financial Times reported. In the first six months of the year, Telegram has earned $525 million in revenue, rising 190% compared to the same period last year. According to the relevant filings, this growth, coupled with proceeds from selling Toncoins and a further Toncoin-related transaction, has given Telegram a financial cushion. In addition, Telegram also added that the detention of its CEO Pavel Durov by French police has had no “material impact” on the messaging app’s operations.