Tron (TRX) Founder Justin Sun Finalizes Purchase of BitTorrent

Business person shaking hands as a deal done

Following last months speculation regarding the potential sale of BitTorrent to cryptocurrency giant Tron, it appears the deal has now been formally completed.

Staff who had been notified about the deal were asked not to say anything but word got out to local news sources.

Rumors about the deal have been circulating since late last year when Tron founder Justin Sun entered into discussions with BitTorrent. Some minor legal issues followed and the acquisition was delayed for a time. Then, when Sun registered a company called Rainberry Acquisition earlier this year, rumors reignited. This was due to the fact that BitTorrent rebranded their corporate identity to Rainberry, Inc early last year.

Now, on the same day last week, both companies have filed for a change of status due to a merger.

How Sun plans to integrate BitTorrent into the Tron network is still unclear, but the peer-to-peer file sharing technology fits very neatly into Tron’s plans to ‘decentralize the web’. Considering the level of privacy surrounding the acquisition, it may be awhile before we hear anything.  

No word has been made yet by Justin Sun or any employees of Tron.

The BitTorrent acquisition comes included with a patent for ‘P2P live streaming’, which, when coupled with its 100 million strong network of users, make it a very lucrative purchase for the Tron Foundation.

With its upcoming MainNet migration on June 26th, we could be seeing big things from Tron in the near future.

Image From Shutterstock

Related posts