Telegram, the widely-used messaging app, disclosed in its 2023 financial statement that it holds $400 million in digital assets. This revelation comes amidst recent turbulence, including the arrest of CEO Pavel Durov on August 24.
The company’s financial report shows it had approximately four million premium users by the end of 2023, which has since grown to over five million.
Despite generating $342.5 million in revenue last year, Telegram reported an operating loss of $108 million.
Notably, around 40% of this revenue was linked to digital asset activities, including an “integrated wallet” for crypto transactions and the sale of digital collectables.
Telegram’s integrated wallet allows users to manage various cryptocurrencies, while the sale of digital collectibles—such as usernames and virtual phone numbers—generates additional income through transaction fees.
The arrest of Pavel Durov, who faces multiple serious charges, has impacted the market for Toncoin (TON), the cryptocurrency associated with Telegram.
Following his arrest, TON’s price fell from approximately $6.70 to $5.30, although some analysts suggest this may present a buying opportunity if the market views the incident as a temporary setback.
