Telegram: rising income but the TON crisis hits the numbers

GasFeeVictim · 2026-01-13T08:39:59+00:00

In the first half of 2025, Telegram's revenue rose 65% to $870 million, but it reported a net loss of $222 million, largely due to the decline of the TON token. Debates surround its strategy with TON, and the company is pursuing an IPO amidst regulatory challenges.

GasFeeVictim

2026-01-13 08:39:59

Abstract generation in progress

Telegram’s figures in the first half of 2025 tell a contradictory story. On one hand, revenue increased by 65% to reach $870 million, driven by premium subscriptions and the strategic alliance with the TON blockchain. Here comes the “but”: the company recorded a net loss of $222 million, a direct hit attributed to the collapse of the TON token price, which plummeted more than 73% at its worst.

The TON sales dilemma

The sale of over $450 million in tokens has sparked debate within the ecosystem. Is Telegram abandoning its commitment to TON or simply adjusting its strategy? The company argues that these transactions are part of a long-term plan, with tokens subject to a four-year vesting period to cushion the market impact.

IPO on the horizon

Telegram continues to move toward an initial public offering, backed by bond issuances totaling $1.7 billion. Despite these financial moves, the company still faces regulatory and legal hurdles that could delay any public listing.

Current data: TON is trading at $1.75 (+0.22% in 24h), still far from recovering the lost ground but showing signs of stabilization in the blockchain ecosystem.

TON4,15%

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