Telegram Crypto Holding Hits $400M, Takes Majority of Profits
Key Points:
- Telegram reported $342.5 million in revenue last year but faced an operating loss of up to $108 million.
- Telegram crypto holding makes up a significant portion of the platform’s assets.
The messaging platform Telegram pulled in revenues of $342.5 million last year but suffered an operating loss as high as $108 million, the Financial Times reports.
Read more: Toncoin Token Plummets $2.7B After Telegram CEO’s Shocking Detention
Telegram Crypto Holding Dominates Its Balance Sheet and Revenue Streams
A large portion of the wealth of the company is virtual, and even Telegram crypto holdings alone account for some $400 million on the balance sheet. That is several times the cash and cash equivalents of the company itself, a sure sign of how vital digital assets are to the investment strategy of the company.
Besides Telegram crypto holdings, above 40% of the revenue is claimed from the “integrated wallet” and the sale of digital collectables. The integrated wallet, launched last year, allows users to store, send, receive, and trade cryptocurrencies. It does so by charging users fees so that they may access one or many of its services.
Among other merchandise, Telegram also sells different types of digital collectibles. These purchases are mostly done in Toncoin, the native cryptocurrency of the blockchain TON, developed by Telegram’s founders for The Open Network.
Toncoin Value Slides after Telegram CEO Arrested in France
TON blockchain was initially developed by Telegram and its founders Pavel and Nikolai Durov, but it has since been passed over and maintained as an open-source project independent of the company. While the split between TON and Toncoin exists, there is a strong element of association tied within the business model of Telegram. As per the IAS 38 standards related to intangible assets, Telegram accounts for such digital assets.
Recent development appears to have taken its toll on the value of Toncoin, which has fallen over 20% after French authorities arrested Telegram founder and CEO Pavel Durov. The arrest was part of a probe into some alleged criminal activities on the application, raising concerns about the future of the app and its associated digital assets.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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Telegram Crypto Holding Hits $400M, Takes Majority of Profits
Key Points:
- Telegram reported $342.5 million in revenue last year but faced an operating loss of up to $108 million.
- Telegram crypto holding makes up a significant portion of the platform’s assets.
The messaging platform Telegram pulled in revenues of $342.5 million last year but suffered an operating loss as high as $108 million, the Financial Times reports.
Read more: Toncoin Token Plummets $2.7B After Telegram CEO’s Shocking Detention
Telegram Crypto Holding Dominates Its Balance Sheet and Revenue Streams
A large portion of the wealth of the company is virtual, and even Telegram crypto holdings alone account for some $400 million on the balance sheet. That is several times the cash and cash equivalents of the company itself, a sure sign of how vital digital assets are to the investment strategy of the company.
Besides Telegram crypto holdings, above 40% of the revenue is claimed from the “integrated wallet” and the sale of digital collectables. The integrated wallet, launched last year, allows users to store, send, receive, and trade cryptocurrencies. It does so by charging users fees so that they may access one or many of its services.
Among other merchandise, Telegram also sells different types of digital collectibles. These purchases are mostly done in Toncoin, the native cryptocurrency of the blockchain TON, developed by Telegram’s founders for The Open Network.
Toncoin Value Slides after Telegram CEO Arrested in France
TON blockchain was initially developed by Telegram and its founders Pavel and Nikolai Durov, but it has since been passed over and maintained as an open-source project independent of the company. While the split between TON and Toncoin exists, there is a strong element of association tied within the business model of Telegram. As per the IAS 38 standards related to intangible assets, Telegram accounts for such digital assets.
Recent development appears to have taken its toll on the value of Toncoin, which has fallen over 20% after French authorities arrested Telegram founder and CEO Pavel Durov. The arrest was part of a probe into some alleged criminal activities on the application, raising concerns about the future of the app and its associated digital assets.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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