Pavel Durov, the CEO of the billion-user messaging platform Telegram, is viewed by many as a crucial player in the widespread adoption of cryptocurrency.
This piece is part of CoinDesk’s Most Influential 2025 list.
By integrating the TON blockchain wallet into its widely-used messaging service, Telegram seeks to alleviate some of the more challenging aspects of engaging with cryptocurrency, such as memorizing seed phrases and signing up on exchanges. In essence, Durov aims to transform Telegram into the largest mass-market crypto gateway, enabling users to access digital asset services as effortlessly as sending a text message.
In 2025, Telegram attracted attention from major investors, including BlackRock, the largest asset management firm globally. The platform successfully raised $1.7 billion through convertible bonds in a tender offer that concluded in late May, garnering interest from investors such as BlackRock, as well as Mubadala, Abu Dhabi’s sovereign wealth fund, and hedge fund Citadel.
Durov is recognized as a fervent supporter of privacy and free speech, which were fundamental motivations behind his establishment of Telegram in 2014. However, his reputation sometimes precedes him in dealings with law enforcement agencies. In August 2024, French authorities seized his passport and placed him under a travel ban following preliminary charges of complicity in drug trafficking, money laundering, and fraud via Telegram. When he regained his passport in March this year, the TON token surged by 20% on the news.
Despite some controversy surrounding Durov and Telegram, 2025 also highlighted the platform’s commitment to combating illegal activities on its service, which could otherwise associate it with crime and fraud. This year, Telegram successfully shut down illicit crypto-oriented marketplaces Xinbi and Haowang, formerly known as Huione, in collaboration with blockchain analysts Elliptic. These marketplaces were believed to have facilitated transactions exceeding $40 billion collectively on Telegram since 2021.
