Telegram, the secure messaging app, has quietly built a cryptocurrency portfolio worth $400 million. This news comes as the platform faces increased attention for its role in fighting crime and after its founder’s arrest in France.
Telegram earned $342.5 million last year, even with a big operating loss. Over 40% of this money came from crypto activities. The company’s wallet, which lets users store, send, and trade crypto, played a big role in this income.
Telegram sells collectibles like usernames and virtual phone numbers to its users. They earn money when these items are given to the user. Telegram also earns fees for helping users buy and sell these items. Together, these sales brought in nearly $148 million in revenue.
Telegram’s Financial Reports
Telegram’s financial reports show that the company has a lot of Toncoin, which is the token for its blockchain project, The Open Network (TON). Telegram sold some of its Toncoin before the recent price drop, showing it carefully manages its crypto investments.
As Telegram faces regulatory challenges and a fluctuating crypto market, its big crypto holdings and revenue show it is a key player in the digital asset world.
Telegram’s big digital asset holdings and its crypto activities have raised questions about its value. Although Durov estimated Telegram’s worth at over $30 billion, its financial results and focus on user privacy make it hard to know its true value.
