[Telegram's Revenue in the First Half of 2025 Reaches $870 Million, Net Loss Exceeds $220 Million] Telegram's revenue in the first half of 2025 reached $870 million, a year-on-year increase of 65%, with approximately $300 million coming from exclusive agreements related to Toncoin. Despite profits nearing $400 million, a write-down of Toncoin's book value resulted in a net loss exceeding $220 million. Toncoin's value dropped by 69% in 2025, and the company has sold over $450 million worth of Toncoin. Additionally, due to Western sanctions, approximately $500 million in Telegram bonds have been frozen in Russia's central securities depository. The company is preparing for an IPO, targeting annual revenue of $2 billion. Founder Pavel Durov remains under judicial investigation in France, but the company stated that the investigation has not yet had a significant impact on its operations.