The post Telegram’s Crypto Investment Revenue Hits $148M; Eyebrows Raised appeared first on Coinpedia Fintech News
Pavel Durov, the founder of Telegram, has recently been charged by a French court. The court claims that Telegram allowed its messaging app tools to be used for illegal activities. This is not the first time Telegram has faced such accusations.
Amid this controversy, a new report reveals that Telegram made substantial revenue from digital asset activities last year.
This unexpected twist raises questions about Telegram’s true intentions. What’s happening behind the scenes?
Telegram’s Impressive Digital Asset Revenue
A report from a global financial media outlet shows that Telegram earned around $148 million from digital asset-related activities in 2023. This figure accounts for at least 40% of the company’s total revenue for the year. The main contributors to this revenue were the ‘integrated crypto wallet’ and the ‘sale of collectibles.’
Telegram and Toncoin: What You Should Know
Toncoin, the native cryptocurrency of the TON blockchain linked with Telegram, is currently priced at $5.32. It has fallen by 21.5% over the past 30 days. Last year was turbulent for Toncoin, but Telegram managed to sell a significant portion of its holdings before the price dropped, according to the report.
In conclusion, Telegram’s involvement with digital assets is significant. The messaging app is expected to deepen its connection with the crypto world in the coming years, potentially leading to new opportunities for growth and innovation.
Telegram’s crypto investments might just be the secret sauce to their success. Or maybe they’re just really good at playing the market. Either way, it’s a strategy worth watching.