According to recent news, BitTorrent, a peer to peer file sharing protocol over the internet, has been sold to Justin Sun, the founder of Tron. It is said that the purchase closed last week but there has been no official statement released by Tron foundation or Justin Sun.
Over the last few weeks, Justin Sun has been over the moon with the launch of Tron’s mainnet and its partnership with over 20+ exchanges. Despite the fact that the prices have seen a downfall over the past week, due to a lot of speculations, Tron is still seeing affirmative reactions from its followers.
The BitTorrent acquisition has been in news from September 2017. Justin Sun had reportedly sued BitTorrent for violating a ‘no shop clause’ [A clause that is included in an agreement between an owner and a prospective buyer that requires the suspension of any solicitation, discussion or negotiation with other potential buyers in a given period of time], and requested for a restraining order from the court for BitTorrent, to cease communication with other potential buyers.
Although TorrentFreak reported that the acquisition had not been finalized, Sun later dropped this lawsuit and registered a holding company under the alias “Rainberry Acquisition”. BitTorrent around the same time had renamed its corporate entity to Rainberry Inc. at the beginning of last year.
According to a news portal, Variety has confirmed that Justin Sun has actually acquired BitTorrent and BitTorrent has informed their staff about the deal. BitTorrent has further advised their staff to avoid talking to press about the deal.
BitTorent is owned by Bram Cohen, who designed this protocol in April 2001 and released the first available version on 2 July 2001.
Lori Donovan, a Twitter user commented:
“It’s just a matter of time before Alibaba partnership is formerly announced and
#TRX lists on Coinbase..They haven’t listed crypto yet in 2018 and the year is half over! #Coinbase #decentralizedmusicstreaming #decentralizedinternet.”
pmwJR, another Twitter user commented,
“Is this what is feels like when a weathermen look at reports knowing a powerful storm is coming when the masses just hear their wind chims and dismiss it? haha. I feel like were seeing the building blocks of the next massive crypto form and only true investors see.”
TRON currently has a market cap of $3,115 billion with a price of $0.04 and has seen a downfall of -19.05% in the past week.