Telegram released its financial report for the first half of 2024, showing significant revenue growth, reaching $525 million. Telegram continues to steadily advance its advertising and subscription revenue strategies and strengthen its content review measures to cope with external regulatory pressures. (Background: Telegram's major update 'Mini Apps 2.0': supports full screen, motion tracking, adds desktop shortcuts; multiple new features) (Additional background: On-chain indicators have dropped sharply; who has stifled the growth of Telegram mini-games?) According to a report by the Financial Times, Telegram recently disclosed financial documents showing its financial status for the first half of 2024, with the company's revenue reaching $525 million, an increase of 190% compared to the same period last year. According to Telegram's unaudited financial statements provided to investors, the company achieved a net profit of $335 million in the first half of 2024, compared to a loss of $173 million in the same period last year, indicating a significant financial rebound. The report noted that as of the first half of the year, the company generated $353 million in revenue from the sale of digital assets, including $348 million from the sale of TON, providing strong support for the company's operations. However, on the other hand, while Telegram itself is a major supporter of TON's growth, it is also one of the main sources of selling pressure. Durov currently cannot leave France. In August of this year, Durov was detained in Paris, facing allegations of failing to effectively handle criminal activities on the platform. Nevertheless, Telegram stated that the incident did not have a 'substantial impact' on its business operations and emphasized that the accusations target the founder himself, not the company. Durov is currently out on bail in France, facing charges that could result in a maximum of 10 years in prison. Despite this, Telegram emphasized in its documents that the company continues to operate steadily and is strengthening its content review measures in response to external scrutiny of inappropriate content on its platform. Relying on cryptocurrency assets, Telegram revealed that the total value of its digital assets has increased from $400 million at the end of 2020 to $1.3 billion in the first half of 2024. This growth is closely related to the increase in the value of TON. TON is a cryptocurrency developed internally by Telegram, but since 2020, the project's development has been handed over to the open-source community due to regulatory disputes with the U.S. Securities and Exchange Commission (SEC). Nevertheless, Telegram still holds a significant amount of Toncoin and has some influence over its market price fluctuations. Long-term revenue model, another major revenue source for Telegram's platform relies on advertising and subscription services. In the first half of 2024, the company generated $120 million from advertising revenue and $119 million from paid subscriptions, achieving significant progress in enhancing profitability. There are also reports that Telegram plans to go public in 2026 and further expand its revenue sources. Related reports: Telegram's major update 'Mini Apps 2.0': supports full screen, motion tracking, adds desktop shortcuts and multiple new features; On-chain indicators have dropped sharply; who has stifled the growth of Telegram mini-games? Bitget Wallet Lite quickly surpassed 3 million users! It has become the fastest-growing multi-chain wallet on Telegram. 'Telegram's revenue exceeded $500 million in the first half of the year, a year-on-year increase of 190%, driven by the rise in TON's value and subscription model' was first published by BlockTempo (the most influential blockchain news media).