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

    CryptoGateBy No Comments3 Mins Read


    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 Instances reported on Tuesday, citing unaudited monetary statements.

    Round a 3rd of that, or $300 million, got here from “exclusivity agreements,” linked to earnings associated to Telegram-connected cryptocurrency Toncoin (TON).

    The report additionally said 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

    Regardless of rising earnings to almost $400 million in H1 2025, Telegram posted internet losses of greater than $220 million, in comparison with a $334 internet 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 jot down down the worth of its holdings in Toncoin, which misplaced 69% of its worth in 2025, according to CoinGecko.

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

    “The corporate informed traders it had offered greater than $450 million in Toncoin within the 12 months thus far,” the report stated.

    By publishing time, the quantity would account for round 10% of TON’s market capitalization, price roughly $4.6 billion, based on CoinGecko information.

    Bond freeze amid alleged Telegram’s publicity to Russia

    The monetary particulars got here alongside Telegram bonds in Russia price half a billion {dollars} being reportedly immobilised attributable to Western sanctions, highlighting the corporate’s publicity to the nation.

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

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

    Associated: ‘Mixed year for IPOs’ as crypto pulls down US IPO performance

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

    In a latest 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 might proceed with a public market itemizing.

    Cointelegraph approached Telegram for remark concerning its 2025 monetary particulars, TON holdings, and the reported bond freeze in Russia, however had not obtained a response by publication.