Telegram reports H1 2025 revenue rise and says it sold $450M in Toncoin

Telegram boosted operating revenue in 2025 and told investors it had sold more than $450 million in Toncoin, the Financial Times reported, citing unaudited financial statements and other sources. The article was updated with a statement from Telegram addressing frozen bonds in Russia.

According to the FT, Telegram’s revenues reached $870 million in the first half of 2025, up 65% from $525 million a year earlier, and about $300 million of that came from “exclusivity agreements” linked to earnings related to Toncoin (TON). The report said the company posted a net loss of more than $220 million in H1 2025, compared with a $334 net profit in the first half of the previous year, and is targeting $2 billion in revenue for 2025.

CoinGecko data cited in the report showed TON lost 69% of its value in 2025 and that the reported $450 million of sales would represent about 10% of TON’s $4.6 billion market capitalization at publishing time. The FT also reported that $500 million of Telegram’s bonds have been frozen in Russia’s central securities depository due to Western sanctions, citing anonymous sources.

Key Topics

Crypto, Telegram, Toncoin, Pavel Durov, Convertible Bond, Blackrock