Crazy 40% of Telegram's revenue comes from crypto-related sources:

- Integrated wallet: store, send, receive, and trade crypto

- Sale of digital collectibles: such as usernames and virtual phone numbers

In total, Telegram generated $342.5M in revenue in 2023 but still ended the year with a loss of $108M.

Importantly, balance sheet shows nearly $400M in crypto holdings ( $TON ), which is more they hold in cash!

Source: Financial Times

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