Cryptocurrencies have become the main source of income for Telegram.
Cryptocurrencies have become the main source of income for Telegram by rvolz.eth1470 🥝 • 2y • 0 views • 0 clicks | |
AI summary of the linked articleTelegram's integrated crypto wallet has become its largest revenue source, according to a Financial Times review of a previously private balance sheet for 2022 and 2023. The document shows a total loss of $108 million on revenues of $342.5 million, with crypto making up more than 40% of revenues. The integrated wallet brought in $130 million, while collectibles (NFTs) earned $17.8 million and the revaluation of digital assets $500,000. The article notes that digital assets now exceed the company's cash reserves, and that Telegram's planned IPO is likely on hold after founder Pavel Durov's arrest in France. | |
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 Hope we won't see FTX sequel with people keeping their USDT on Telegram wallet just to find out that the TON blockchain is de facto centralized and can rug them. Just quick reminder for everyone that it is a matter of public record that USDT is undercapitalized. Citation: https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegal How undercapitalized some people ask I'd recommend some research of your own. (omg i wonder if they are gonna black list my wallet now since this message is signed :D ) | |
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