Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>While bitcoin and ethereum dominate the headlines, there are more than 17,000 <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> coins.</li><li>With less liquidity and more volatility, these alternative <keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword> can deliver investors massive losses or gains in a short period of time.</li><li>These were the five worst performing cryptocurrencies over the past week, according to data from CoinMarketCap.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>Bitcoin's<a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-3month-low-fed-policy-kazakhstan-hash-rate-2022-1"> bear market</a> has sucked the life out of many popular cryptocurrencies, with the total crypto market capitalization <a href="https://markets.businessinsider.com/news/currencies/bitcoin-bear-market-crypto-value-2-trillion-peak-cryptocurrency-btc-2022-1">falling from $3 trillion to less than $2 trillion today.</a> But less liquid <keyword id="11961769" type="UNKNOWN" weightage="60" keywordseo="altcoins" source="Orion">altcoins</keyword> have seen an even steeper decline.With more than 17,000 cryptocurrencies in existence and counting, there are more than triple the number of crypto coins than there are US exchange-listed stocks. That massive amount of supply makes it nearly impossible to keep track of all the big movers in the crypto sector outside of well known coins like <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a>, <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a>, and <a href="https://markets.businessinsider.com/currencies/doge-usd">dogecoin</a>.The surge in new crypto coins came amid a massive bull market for the sector in 2021, but <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-downside-key-support-fails-technicals-katie-stockton-2022-1">a more than 40% decline in bitcoin</a> from its November high is challenging the space, especially in smaller coins that saw extraordinary gains last year like solana, cardano, and polkadot. With less liquidity and more volatility, these alternative cryptocurrencies can deliver investors massive losses or gains in a short period of time. Shiba inu is down 65% from its recent high, but is still <a href="https://markets.businessinsider.com/news/currencies/crypto-investor-turned-8000-into-5-billion-buying-shiba-inu-2021-10">up big</a> over the past year. Meanwhile, <a href="https://markets.businessinsider.com/news/currencies/the-squid-game-token-scam-website-socials-offline-coingecko-crypto-2021-11">squid game token fell 99%</a> in a single day after delivering swift gains of 75,000%.Keeping an eye on the weekly winners and losers can help investors identify which coins are beginning to gain and lose traction in the crypto community.These were the five worst performing cryptocurrencies with a market value of more than $1 billion over the past week, according to <a href="https://coinmarketcap.com/">data from CoinMarketCap.</a>5. Axie InfinitySymbol: AXS Market Value: $2.8 billion 7-Day Performance: -28.7%<div type="image" title="Axie" height="494" width="938" msid="89187319" hostid="261"></div>4. PancakeSwapSymbol: CAKE Market Value: $1.8 billion 7-Day Performance: -28.7%<div type="image" title="Pancake Swap" height="495" width="936" msid="89187320" hostid="261"></div>3. TerraSymbol: LUNA Market Value: $20.5 billion 7-Day Performance: -29.8%<div type="image" title="Terra" height="497" width="939" msid="89187321" hostid="261"></div>2. ToncoinSymbol: TONCOIN Market Value: $2.6 billion 7-Day Performance: -30.9%<div type="image" title="Toncoin" height="497" width="933" msid="89187322" hostid="261"></div>1. Convex <keyword id="11895316" type="UNKNOWN" weightage="60" keywordseo="finance" source="Orion">Finance</keyword>Symbol: CVX Market Value: $1.2 billion 7-Day Performance: -31.6%<div type="image" title="Convex Finance" height="492" width="939" msid="89187323" hostid="261"></div>

These were the 5 worst performing cryptos over the past week amid the bitcoin bear market

<ul class="summary-list"><li>French authorities charged Telegram CEO Pavel Durov with multiple crimes this week.</li><li>Telegram's finances reveal a $108 million loss on $342 million of revenue last year, the FT reports.</li></ul>This week <a target="_blank" href="https://www.businessinsider.com/telegram-ceo-pavel-durov-charges-questions-free-speech-censorship-2024-8">French authorities charged Telegram CEO Pavel Durov </a>with multiple crimes. But in the months before that, he was telling people he might take his company public, and floated a <a target="_blank" href="https://www.ft.com/content/8d6ceb0d-4cdb-4165-bdfa-4b95b3e07b2a">$30 billion valuation</a> for his messaging/social media company, which boasts more than 900 million users.Now the <a target="_blank" href="https://www.ft.com/content/242552a9-4280-46c0-9d61-bcf6ccd14400">Financial Times</a> says it has gotten a look at Telegram's 2023 finances, and those numbers make it very hard to imagine the company could convince people it's worth anything like $30 billion — even if its founder and CEO wasn't looking at jail time.The big headline numbers: Last year Telegram lost $108 million on revenue of $342 million, according to the FT. It's not uncommon for fast-growing consumer tech companies to be money losers when they go public. Twitter did that in 2012, and <a target="_blank" href="https://www.businessinsider.com/why-reddit-loses-money-ipo-research-development-revenue-2024-2024-2">Reddit did it this year</a>.The bigger red flag for Telegram is the reported makeup of its business: While it makes a modest amount of money from conventional social media vectors — advertising and premium subscriptions — it makes 40% of its total from crypto services, the FT reports. It operates a digital "wallet" where users can store crypto coins and the like, and it sells digital collectibles, like usernames, to its users. And that business seems to run primarily on Toncoin, a cryptocurrency originally built by Telegram.The whole setup, as the FT notes, makes it seem like Telegram is "a crypto firm with a sideline in messaging." Telegram didn't respond to a request for comment.You can build a real business as a crypto trading hub, and that can be quite valuable: see <a target="_blank" href="https://finance.yahoo.com/quote/COIN/">Coinbase</a>, currently worth some $45 billion.But asking investors to decide if Telegram is a social media company like Twitter, a messaging app like Whatsapp, or… something else, fueled by a semi-obscure digital coin, would be a real ask.And that's before you get to the issue of Durov's proposed valuation, and Telegram's very modest existing business, which don't sync up at all. Coinbase, for instance, eked out a small profit last year on revenues of $2.9 billion. Twitter, prior to Elon Musk's 2022 purchase, had been worth around $25 billion, and was doing around $5 billion a year. Reddit, currently worth $10 billion, did $800 million last year. It's really hard to see how Telegram's $342 million stacks up to those.Presumably any bankers working Telegram's theoretical IPO would play up the idea that while Telegram's top line is fairly modest, it is doing all of that with a teeny tiny staff of about 50 people. And that would give the company the ability to produce truly magnificent margins, one day, as the business matures.But that will be a much harder sell after this month.<a target="_blank" href="https://www.businessinsider.com/pavel-durov-arrest-france-what-is-telegram-explained-2024-8">While we still don't fully understand the French case against Telegram</a>, it seems to center around the company's deliberate policy of doing almost zero moderation, and an alleged unwillingness to comply with government requests to fight illegal behavior on the platform.Durov has said Telegram's no-moderation, no-compliance stance is a political/theological one. But it also has a real business component: As every big social network has learned, keeping an eye on what happens on your platform, and dealing with regulators who want a say about that, is a very expensive proposition that involves paying lots of humans. Right now, Durov doesn't have to worry about that.But if Durov wants to placate the French government — and maybe others who are looking at similar charges — he may very well have to agree to change the way he runs his business and hire a lot more people.Who knows? Maybe that would make it more valuable in the long run. But it would definitely ding the company's P&amp;L in the near-term.

Telegram's reported finances reveal a pretty small business with an uncertain future

You Searched For "toncoin" and got 2 results

These were the 5 worst performing cryptos over the past week amid the bitcoin bear market

Matthew Fox

Telegram's reported finances reveal a pretty small business with an uncertain future

Peter Kafka

Popular Keywords

Buying Guides