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Report: The amount of cryptocurrency held by Telegram increased to 1.3 billion USD in the first half of 2024

Report: The amount of cryptocurrency held by Telegram increased to 1.3 billion USD in the first half of 2024

Bitget2024/11/26 12:36

The value of digital assets held by the communication platform Telegram has risen from $400 million at the end of 2023 to $1.3 billion in the first half of 2024. Telegram had previously disclosed that it holds about $400 million in digital assets.

However, new information indicates that the company's cryptocurrency holdings have exceeded $1 billion. According to the report, this instant messaging platform generated revenue of $525 million from January to June. Compared with the same period in 2023, it increased by 190%. The report emphasizes that the company earned $353 million through selling cryptocurrencies in the first half of 2024.

The report shows that approximately $225 million came from transactions with an undisclosed entity. It is reported that Telegram received compensation for allowing TON tokens to become an exclusive method for businesses to purchase advertisements on its messaging application.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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