Tron Founder to Buy BitTorrent Inc.

Tron buys Bittorrent

TorrentFreak reported last May 25th that Tron founder Justin Sun is currently in the process of acquiring BitTorrent Inc.

Earlier this year, Sun had taken BitTorrent Inc. to court for allegedly violating a “No Shop” clause from a letter of intent he had signed in January. The lawsuit indicated that after the letter of intent was signed, BitTorrent’s David Chao told Sun that he had received three “superior” bids from other companies with which they had communicated.

The lawsuit, which sought a restraining order for BitTorrent to stop communications with other buyers was dismissed.

The TorrentFreak report continues with Sun registering a holding company called Rainberry Acquisition, presumably to complete the buyout.

BitTorrent confirmed that the acquisition has not been finalized, while Justin Sun has yet to make a statement as of press time.

TRON, which launches their mainnet in a few days, has a market cap of around $4.6 billion and is ranked 9th on Coinmarketcap. TorrentFreak noted that the TRON Mainnet aims to “decentralize the web.”

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