Telegram Crypto Holdings Surge to $1.3 Billion in H1 2024

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Telegram’s crypto holdings surged to $1.3 billion in the first half of 2024, up from $400 million at the end of 2023. This increase was driven by profits from selling Toncoin and strategic deals related to The Open Network (TON). Telegram also reported $525 million in revenue for H1 2024, with $353 million coming from crypto sales. Despite legal challenges faced by founder Pavel Durov, the company’s crypto holdings have provided a financial buffer. Plus, Telegram holds a significant amount of TON, which has seen fluctuations in value.