Telegram has told investors that the detainment of chief executive Pavel Durov by French police has had no “material impact” on the messaging app’s operations, as financial disclosures showed that the surging value of its crypto holdings is increasingly underpinning its business.

According to unaudited financial statements seen by the Financial Times, which have not been previously reported, Telegram reported huge gains in the value of its digital assets in the first half of 2024, which rose to $1.3bn compared with nearly $400mn at the end of last year.

The filings suggest that this rise, together with proceeds it booked from selling Toncoins — a cryptocurrency with which it has close ties — and a further Toncoin-related deal have all helped create a financial buffer for the Dubai-based company after it was shaken by Durov’s legal troubles.