Toncoin

Billion

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/telegram-grows-crypto-holdings-to-1-3-billion" data-wpel-link="internal" rel="noopener noreferrer nofollow">Telegram Grows Crypto Holdings to $1.3 Billion</a><br></p>
<p style="text-align: justify">In a remarkable financial leap, Telegram has reported that its cryptocurrency assets surged to $1.3 billion in early 2024, a significant rise from $400 million at the close of 2023. This impressive increase can be attributed mainly to successful Toncoin sales and various other financial maneuvers.</p>
<h2 id="what-fueled-the-threefold-increase">What Fueled the Threefold Increase?</h2>
<p style="text-align: justify">A recent analysis indicates that the rapid growth of Telegram’s crypto portfolio is closely linked to a $353 million Toncoin sale related to The Open Network (TON). This transaction played a crucial role in tripling the company’s total crypto assets within just six months.</p>
<h2 id="how-did-revenue-growth-fare">How Did Revenue Growth Fare?</h2>
<p style="text-align: justify">During the first half of 2024, Telegram saw a drastic revenue increase to $525 million, marking a 190% rise compared to the previous year. The primary sources of this revenue surge include cryptocurrency transactions, advertising, and premium services, with advertising revenue nearly doubling to $120 million.</p>
<p style="text-align: justify">In August 2024, Telegram’s CEO Pavel Durov encountered legal issues in France, stemming from accusations related to unaddressed illegal activities on the platform, particularly concerning child exploitation and terrorism. Although released on bail, he remains under restrictions in France.</p>
<p style="text-align: justify">Despite these legal hurdles, Telegram continues to assert that its operations remain stable, bolstered by an expansion of content moderation teams to meet international guidelines.</p>
<ul>
 <li>Telegram’s crypto assets have increased significantly, indicating robust growth.</li>
 <li>The company’s revenue diversification is enhancing its financial stability.</li>
 <li>Legal challenges have not hindered Telegram’s operational capabilities.</li>
</ul>
<p style="text-align: justify">The substantial growth of Telegram’s cryptocurrency assets underscores its pivotal position in the digital economy, showcasing its potential for sustained success and innovation in the sector.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/telegram-grows-crypto-holdings-to-1-3-billion" data-wpel-link="internal" rel="noopener noreferrer nofollow">Telegram Grows Crypto Holdings to $1.3 Billion</a></h5>

Telegram Grows Crypto Holdings to $1.3 Billion

Table of Contents

BH NEWS

Other articles published on Nov 27, 2024

Quantoz Unveils MiCA-Compliant Stablecoins USDQ and EURQ Backed by Tether and Kraken

From Pepe Coin Fame to BTFD Coin Game: The Meme Coin Revolution You Don’t Want to Miss

Meme Coin Mania: CZ Zhao Calls for Shift to Real Blockchain Applications

'Intensely Private': Ripple CTO Sheds Lights on Mysterious XRP Co-Creator

Altcoin Season Index Drops to 48, Signaling Shift to Bitcoin Season

Musk sounds alarm on US debt, gets reminded of $8 trillion from Trump era

Join our free newsletter for daily crypto updates!