Telegram Holds $400 Million in Digital Assets, Generates Significant Crypto Revenue in 2023

Telegram, the popular messaging app widely used by crypto enthusiasts, held $400 million in digital assets by the end of 2023, according to a report by the Financial Times. The report also revealed that a substantial portion of Telegram’s revenue for the year came from crypto-related activities, such as its “integrated wallet” and the “sale of collectibles.” These activities accounted for nearly $148 million, representing about 40% of the app’s total revenue.

In addition to these financial highlights, Telegram's founder and CEO, Pavel Durov, faced legal challenges this week. A French court indicted Durov on charges that Telegram's tools and services have been used to facilitate illicit activities. Despite the controversy, Telegram continues to be a major player in the digital asset space, with its involvement in the TON blockchain and associated tokens like Toncoin, further solidifying its role in the crypto ecosystem. The app, valued at $30 billion, has nearly 1 billion users, though the exact number of active users remains unclear.

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