Report: The amount of cryptocurrency held by Telegram increased to 1.3 billion USD in the first half of 2024
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.
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.
You may also like
UNI falls below $5
ZEC rebounds to surpass 900 dollars, 24-hour decline narrows to 1.56%
Boston Fed President Collins: Gradual rate hikes are appropriate; a stable labor market has not pushed up prices.
Boston Federal Reserve President Collins stated that, with the labor market stabilizing and not putting additional pressure on prices, a gradual approach to interest rate hikes would be an appropriate path to reduce inflation.
Crypto prices
More
