40% of Telegram's revenue comes from cryptocurrency-related sources
DeFi researcher Ignas posted on platform X, stating that 40% of Telegram's revenue comes from cryptocurrency-related sources, including integrated wallets (for storing, sending, receiving and trading cryptocurrencies) and the sale of digital collectibles (such as usernames and virtual phone numbers). Overall, Telegram's revenue in 2023 was $342.5 million USD but still had a deficit of $108 million USD by the end of the year. However, its balance sheet shows it holds nearly $400 million USD in cryptocurrency (TON), which is more than their cash holdings.
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