Telegram generated $148 million from digital asset activities in 2023, contributing 40% of its total revenue. Toncoin has seen a decline in price recently, despite Telegram selling a significant amount before the drop.
Telegram founder faces charges over illegal activities on the platform
Telegram earned $148 million from digital asset activities in 2023, contributing to 40% of its total revenue.
Toncoin's price has declined recently, despite Telegram selling a significant amount of the cryptocurrency before the drop.
Pavel Durov, the founder of Telegram, has been charged by a French court for allegedly allowing Telegram's messaging app tools to be used for illegal activities, according to a recent report by France Info. This is not the first time Telegram has faced such accusations.
In a separate development, a new report has revealed that Telegram generated substantial revenue from digital asset activities last year.
Telegram’s Digital Asset Revenue Surges
A report by a global financial media outlet has disclosed that Telegram earned approximately $148 million from digital asset-related activities in 2023. This figure contributes to at least 40% of the company's total revenue for the year. The ‘integrated crypto wallet’ and the ‘sale of collectibles’ were the main drivers behind this revenue.
Telegram and Toncoin: A Brief Overview
Toncoin, the native cryptocurrency of the TON blockchain linked with Telegram, is currently trading at $5.32, down 21.5% over the past 30 days. Last year was particularly turbulent for Toncoin, but Telegram managed to sell a significant portion of its holdings before the price dropped, according to the report.
In summary, Telegram's involvement with digital assets is significant. The messaging app is expected to further its integration with the crypto world in the coming years, potentially presenting new avenues for growth and innovation.
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