Telegram has secured a major $1.5 billion bond deal, signaling strong investor confidence despite legal headwinds surrounding its CEO Pavel Durov. With a 9% yield over five years, the bond has drawn major players like BlackRock, Mubadala, and Citadel. The funds will help refinance Telegram’s 2021 bonds, nearly $400 million of which have already been repurchased using internal reserves.

A notable clause gives bondholders the option to convert debt into equity—should Telegram go public. While an IPO seems unlikely for now due to Durov’s legal constraints in France, the clause adds speculative upside for long-term investors.

CEO Under Scrutiny

Durov currently faces preliminary criminal charges in France over alleged non-cooperation with authorities investigating illicit Telegram activity. While he denies wrongdoing and claims full legal compliance, the matter has slowed his ability to travel for investor relations.

Despite this, Telegram’s business is booming. In 2024, the company posted a $540 million profit on $1.4 billion revenue—a sharp rebound from its $173 million loss the previous year. Its 2025 forecast shows further growth, with revenue projected at $2 billion and profit exceeding $700 million.

User Base and DeFi Integration Expand

Telegram has reached 1 billion monthly active users, with paid subscriptions doubling to over 15 million. Meanwhile, its crypto ecosystem is evolving: Libre recently launched a $500M tokenized bond fund on The Open Network (TON), enabling blockchain-based exposure to Telegram’s debt and DeFi use cases.

With major investors onboard and a clear monetization strategy via ads, subscriptions, and in-app services, Telegram is rapidly transforming into a robust tech-finance hybrid. Legal risks remain, but so does potential upside for those betting on its continued expansion.

This article does not constitute investment advice. Always conduct your own research before making financial decisions.