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    Telegram Sells $450M In Toncoin As Token Plunges: Report

    Naveed AhmadBy No Comments3 Mins Read
    Telegram Sells 0M In Toncoin As Token Plunges: Report


    Replace (Jan. 6, 1:20 pm UTC): This text has been up to date with an announcement from Telegram.

    Cryptocurrency-friendly messenger Telegram boosted its working income in 2025 because it explores a possible preliminary public providing (IPO).

    Telegram’s revenues hit $870 million within the first half of 2025, up 65% from $525 million a 12 months earlier, the Monetary Occasions reported on Tuesday, citing unaudited monetary statements.

    A couple of third of that, or $300 million, got here from “exclusivity agreements,” linked to earnings associated to the Telegram-connected cryptocurrency Toncoin (TON).

    The report additionally stated that $500 million of Telegram’s bonds have been frozen in Russia’s central securities depository attributable to Western sanctions, the FT stated, citing nameless sources.

    Telegram reportedly sells $450 million in TON

    Telegram posted a web lack of greater than $220 million in H1 2025, in contrast with a $334 web revenue within the first half of the earlier 12 months. The corporate targets $2 billion in income in 2025.

    The loss reportedly got here from Telegram having to put in writing down the worth of its holdings in Toncoin, which misplaced 69% of its worth in 2025, accordingly that CoinGecko.

    Toncoin (TON) value chart in 2025. Supply: CoinGecko

    “The corporate advised buyers it had offered greater than $450 million in Toncoin within the 12 months so far,” the report stated.

    By publishing time, the quantity would account for about 10% of TON’s market capitalization of $4.6 billion, in accordance with CoinGecko knowledge.

    Telegram denies publicity to Russia

    Addressing the bond freeze in Russia, a spokesperson for Telegram stated that the $500 million determine refers to a bond situation from 2021. The consultant famous that Telegram’s newest bond providing in 2025 excluded participation by Russian buyers.

    “Telegram isn’t depending on Russia or Russian capital and doesn’t face bond-related points attributable to sanctions,” the spokesperson stated, including:

    “Sanctions don’t create dangers for Telegram: beneath commonplace follow, funds for bond reimbursement are transferred to a world middleman, and subsequent funds to bondholders are exterior the corporate’s duty, even when some holders are unable to obtain them.”

    Telegram launched a number of bond choices in recent times, together with a $1.7 billion convertible bond providing issued in Could 2025. The sale reportedly featured current backers, together with funding large BlackRock and Abu Dhabi’s funding agency Mubadala.

    In keeping with FT sources, Telegram purchased again many of the bonds maturing in 2026.

    Associated: ‘Blended 12 months for IPOs’ as crypto pulls down US IPO efficiency

    The report comes amid Telegram CEO Pavel Durov remaining beneath formal investigation in France over the platform’s alleged failure to handle criminality, together with youngster abuse content material.

    In a current name with some bondholders, Telegram reportedly stated it continued to cooperate with authorities concerning Durov’s case and that it wanted extra decision earlier than the corporate may proceed with a public market itemizing.

    Cointelegraph additionally sought remark from Telegram on its 2025 financials and TON holdings, however the firm didn’t tackle both in its response.