TRON Reportedly Acquiring BitTorrent Inc.

TRON Reportedly Acquiring BitTorrent Inc.

TRON is currently in the process of acquiring BitTorrent Inc by founder Justin Sun, as reported on Friday, May 25.

Justin Sun had previously suited BitTorrent Inc earlier in the year, who had changed their name to Rainberry regarding a “No Shop” clause violation, from a letter of intent they had signed back in January.

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Sun claims that after the letter of intent was signed, the owner of BitTorrent, David Chao, had received 3 bids to sell the company, from other interested parties. Sun filed a restraining order on BitTorrent in order to cease communication with the potential buyers. The restraining order was dismissed in court.

BitTorrent states that the acquisition has not been finalized yet, however Justin Sun has not yet responded to this claim at the time of report by TorrentFreak.

The TRON Mainnet will be launched in five days and has a current market cap of around $4.6 billion. It’s ranked ninth on CoinMarketCap and currently trades at around $0.07 at the time of this press release.

TRON aims to decentralize the Internet by utilizing torrents mentioned within TRONs whitepaper. The acquisition of BitTorrent would align TRON with their current agenda.

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