Telegram's 2023 financial report reveals the app held $400 million in crypto assets by the end of last year. Telegram had around four million premium users at that time, and now it has over five million. Despite an operating loss of $108 million, the app earned $342.5 million in revenue, with 40% coming from crypto-related activities.
Telegram also recorded $11.66 million in in-app revenue in early 2024. The report highlighted that the company earns from an integrated wallet for crypto transactions and from selling collectibles like usernames and virtual phone numbers.
Recently, Telegram CEO Pavel Durov was arrested on serious charges, which affected the value of Toncoin (TON), Telegram’s cryptocurrency. Despite a price drop, some believe TON could rebound if the market views the arrest as a minor issue.
