How Much Cryptocurrency Does Telegram Have? Official Data Announced

According to the Financial Times, Telegram, a popular messaging app in the crypto world, held $400 million worth of digital assets at the end of 2023.

The report, based on Telegram's 2023 financial statements, shows that the majority of the application's revenues come from activities related to digital assets. These activities are listed under the headings "integrated wallet" and "collection sales."

These two items brought in almost $148 million in revenue, which makes up about 40 percent of Telegram's annual revenue. According to the report, "An integrated wallet is a software program that allows users to store, send, receive and trade crypto assets."

Toncoin and collections

The report on collection sales states, "The Group sells various collections (usernames, virtual phone numbers) to its users. The relevant income is recognized at the time the collection is assigned to the user. The group also facilitates the sale of collectibles among users and receives a fee for facilitating the sale,” the statement said.

The Financial Times also noted that at one point, Telegram sold a large amount of Toncoin tokens before the cryptocurrency’s price crash. Toncoins are based on the TON blockchain, which is closely associated with Telegram.

A Financial Times article examining Telegram’s finances suggests that Durov’s messaging app is worth at least $30 billion. According to the article, Durov owns 100% of Telegram, and the $2.3 billion in external financing was obtained through convertible bonds held by “sovereign wealth funds, hedge funds and technology-focused investors.”