TRON founder Justin Sun is reportedly in the process of acquiring Bittorent Inc., operator of torrent client uTorrent, TorrentFreak reports Friday, May 25.
Not long ago, Justin Sun had sued BitTorrent Inc. - which changed its name to Rainberry a year ago - for allegedly disregarding a "No Shop" proviso from a letter of expectation he had marked in January. Sun's claim noted that just after the letter of intent was signed, BitTorrent's David Chao revealed to Sun that the company had gotten three "unrivaled" offers from different companies with which they had communicated.
Sun's request for an order restraining BitTorrent to stop communications with other potential buyers was expelled in court.
TorrentFreak composes that in the meantime the time of exclusivity of the letter of intent finished toward the end of February, Sun had registered a holding company called "Rainberry Acquisition."
BitTorrent affirmed with TorrentFreak that the procurement has not been finished yet, while Justin Sun has not reacted to Cointelegraph's request for remarks by press time.
TRON, which will launch the Tron Mainnet in five days, has a market capitalisation of around $4.6 bln and is right now positioned ninth on Coinmarketcap, down a little more than 2 percent over a 24 hour period and trading for around $0.07 by press time. TorrentFreak noted that the TRON's mainnet intend to "decentralize the web," with torrents said specifically in the TRON whitepaper, lines up with that of BitTorrent.
Disregarding the connection with TRON,BitTorrent founder Bram Cohen declared the last fall that he intended to make his own cryptocurrrency, Chia, that would settle the "centralization issues" of Bitcoin.Disconnected to the TRON cryptocurrrency