Telegram's $500 million bonds frozen due to Western sanctions
TL;DR
Telegram's $500 million Russian bonds are frozen due to Western sanctions, impacting debt buyback and investor concerns. Despite a 65% revenue increase to $870 million, it posted a $222 million net loss from Toncoin devaluation, while planning Ton ecosystem integration and an IPO.
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According to a report by the Financial Odaily, Telegram's $500 million in Russian bonds have been frozen by the national settlement depository due to Western sanctions against Russia, despite founder Pavel Durov's efforts to distance himself from Moscow. This move hinders its debt buyback and has raised concerns among investors. Telegram still plans to repay its debts on schedule, and its revenue in the last six months increased by 65% year-on-year to $870 million, but it suffered a net loss of $222 million due to the devaluation of Toncoin. Telegram is pushing for the integration of the Ton ecosystem and preparing for an IPO.