Telegram financial statement shows it holds $400 million in crypto
The messaging app had about four million premium users at the end of 2023.
The popular messaging app Telegram, whose CEO Pavel Durov was arrested on Aug. 24, reportedly held $400 million in digital assets as of the end of last year, according to the company’s 2023 financial statement.
The app had around four million premium users at the close of 2023, a number that has grown to over five million today.
Telegram posted an operating loss of $108 million during the year ended Dec. 31, 2023, while generating $342.5 million in revenue. According to a Financial Times report, about 40% of Telegram’s revenues came from digital asset-related activities under the categories “integrated wallet” and “sale of collectibles.”
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Author: Pradipta Mukherjee
