Telegram's cryptocurrency holdings surged to $1.3 billion in the first half of 2024, a significant increase from $400 million at the end of 2023. This growth was largely attributed to profits from Toncoin sales and strategic agreements, according to a Financial Times report. The company reported revenue of $525 million in H1 2024, representing a 190% rise year-over-year, with $353 million generated from cryptocurrency sales alone. Notably, $225 million stemmed from a deal allowing TON tokens to be the exclusive method for businesses purchasing ads on the platform. However, this exclusivity agreement was terminated in early October. Following uncertainties stemming from the arrest of founder Pavel Durov in August for regulatory issues, the TON cryptocurrency experienced volatility but eventually rebounded. Telegram is now one of the top five most downloaded apps, with a monthly active user count surpassing 950 million in 2024.

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