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It’s official: Tron TRX CEO and founder, Justin Sun, buys BitTorrent

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Tron blockchain platform head developer and CEO, Justin Sun, has reportedly purchased maintainers and developers of the peer-to-peer software firm BitTorrent Inc, as well as the company itself (uTorrent included). According to a report by Variety yesterday, the deal is believed to have been quietly sealed last week with the news being announced to the public unceremoniously through an electronic mail from the management and staff of BitTorrent confirming the acquisition.

Major stakeholders of the company were also made aware of the changes by the transfer agent who settled the agreement. The employees of BitTorrent were strictly warned against releasing any information to the media at any level of the just concluded discussions.

When did the talks Begin?

News concerning Tron’s interests in owning BitTorrent first surfaced in May this year, when TorrentFreak reported that Tron CEO and founder, Justin Sun was pursuing the acquisition.

However, we have reason to believe that the talks between BitTorrent and Justin did not begin this year, rather they began engaging in September last year. Justin is said to have signed a ‘document of intent to purchase’ early this year.

The talks have not been all rosy along the way with the proceeding of the agreement hitting a dead end between then and now when Justin sought a restraining order against BitTorrent for looking around for other potential bidders for the acquisition. Their earlier agreement was clear that BitTorrent was not supposed to engage in pursuing other proposals.

Eventually, the courts lifted the restraining order, and Justin formed an authorized entity by the name Rainberry Acquisition LLC. The reason behind the Rainberry name change is because BitTorrent had also changed the name of its operating authorized entity to Rainberry Inc earlier last year.

Then, last week, both Justin’s Rainberry Acquisition Inc and BitTorrent’s Rainberry Inc. quietly agreed and filed both merging documents and status change documents with the office of the California Secretary of State.

The variety was the first to officially report the acquisition after learning the staff of BitTorrent was informed of the new changes. You should expect Mr. Sun to tweet about the deal shortly as he is very active at making announcements on Twitter (perhaps too much for some).

While both parties have managed to put the financial details of the deal confidential, Tron Foundation currently enjoys having quite a chunk of coinage at their disposal.

Tron (TRX) value to surge shortly?

At the time of writing, the price of Tron (TRX) is at $0.04590 signaling a 23.38% loss in the last seven days, according to Coinmarketcap. The price Tron (TRX) is at present fetching is still in the red, being among the worst performing top 10 digital coin. However, Tron still has an impressive trading volume of about $65 billion and a market cap of roughly $3 billion.

In the coming few days, weeks, and months, it will be interesting to see how the merger of Tron (TRX) and BitTorrent is going to play out and work to compliment each other as they are now under the same owner, marketing guru (yes, he surely is), Justin Sun.

BitTorrent was designed and released in 2001 and previously owned by Bram Cohen. It’s going to be interesting to see whether BitTorrent acquisition is going to have a positive effect on the future of the digital coin or otherwise.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of TheDigitalArtist via Pixabay

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FOTON Bank Is Launching An All-in-One Crypto Banking Service to Process up to 500 Transactions per Second

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The decentralized FOTON project is launching its next-generation crypto-bank ecosystem to stimulate and facilitate the use of cryptocurrency payments worldwide, as stated in the official press release published by the company.

The statement issued by the FOTON project on December 3, referred to the launch of a decentralized crypto-bank designed for multi-currency transactions featuring a built-in fiat and cryptocurrency exchange system and instant contactless payments for goods and services worldwide. The system is intended to become a stable and flexible ecosystem that will enhance scalability for services related to financial assets, exchange solutions, cards, accounting, and business/customer services.

The technology being employed in the design of the ecosystem was specifically created to tackle some of the most critical issues facing the modern banking system, as well as the widespread adoption and application of cryptocurrencies in routine business transactions. The issues the FOTON project’s ecosystem seeks to solve include overregulation, bureaucracy, centralization, system faults, volatility, legal constraints and complications related to practical use.

We are creating the ecosystem that will prove to be the impetus and basis the crypto market needs to make the effective transition to becoming the next global banking system,” as stated by Andrey Pashkevich, CEO and Co-founder of FOTON.

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Why people should be mining bitcoin right now, but probably won’t…

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“The time to buy is when there’s blood on the streets” – Baron Rothschild

You have probably heard these stories, but let me explain why they are as important today as they were 100 years ago when first spoken. Not only that, it is just as relevant today. A bit of a background first.

Napoleon was at war with England. The Battle of Waterloo, it was England’s last chance to save itself, and remain as England. Baron Rothschild was standing at his post in the London stock exchange. If England wins, the market will rally, if Napoleon wins, it will go to shit. Baron Rothschild sends his private messenger to Waterloo and demands that he return to him and report who won the war.

His messenger does so and makes it in time before the public knows anything. England had won the Battle of Waterloo.  At his stand on the exchange, what does Barron do? You would think buy up stocks right? Nope, Baron starts to sell, at first slowly, and then faster. The other brokers on the floor watch what Rothschild is doing and think “Baron knows something, we lost, start selling”. Now, the brokers on the exchange begin selling in a frenzy. In the midst of all this, Baron begins placing buy orders at the bottom of the market through other brokers who do not know it’s him buying. On that day, Baron Rothschild purchased almost all…

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Crypto Users’ Search For a Good Bitcoin Blender Stops With Bestmixer.IO

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At first glance, it might seem easy to find a good bitcoin blender that guarantees your anonymity and is secure. There are after all a number of big bitcoin mixers on the market, so how different can their services really be?

If that’s what you’re thinking, beware. All bitcoin blenders claim to have anonymous transactions – that is after all the main reason why anyone would want to use these services. This claim was however always difficult to test. How does one go about to check if these promises are indeed true?

This was the case until BestMixer.io appeared on the scene. Unlike previous bitcoin anonymization services, BestMixer.io features complete, verifiable anonymization for bitcoin. Releasing a utility named the Coin Anonymization Event (CAE) check, BestMixer.io not only proved that their bitcoin transactions could not be traced, but also showed that those of their competition could be. With this bold move, BestMixer.io not only demonstrated that they are a good bitcoin blender, but one could argue that they are the best. Even though those services that were exposed as not being anonymous have in the meantime changed their systems to prevent the CAE-check from revealing transaction detail, would you really be happy to trust them again?

BestMixer.io mixes not only Bitcoin, but also other leading cryptocurrencies including Bitcoin cash, Ethereum, Litecoin and Bitcoin SV.

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