According to ChainCatcher, financial documents show that Telegram's revenue reached $525 million in the first half of this year, a 190% increase compared to the same period in 2023. Of this, $225 million came from a one-time Toncoin advertising deal. Telegram's digital asset value surged significantly in the first half of 2024, rising from nearly $400 million at the end of last year to $1.3 billion.
According to the documents, nearly half of the revenue ($225 million) came from a one-time deal with an unnamed institution. Under the terms of the deal, Telegram 'was compensated' in exchange for allowing the cryptocurrency Toncoin to be the only payment method for small businesses to purchase ads on the app.
The documents indicate that this exclusive agreement was terminated on October 1. Telegram achieved a net profit of $335 million in the first half of this year. Compared to the full-year performance of $342 million in revenue and a loss of $173 million in 2023, these figures suggest that Telegram was heading towards its first annual profit before Durov's detention.
