Connect with us

Don't Miss

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



Tron TRX BitTorrent

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.

For the latest cryptocurrency news, join our Telegram!

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

Don't Miss

A Guide to Exploring the Singaporean ETF market




Singapore’s Exchange Traded Fund (ETF) market has grown, offering investors diverse investment opportunities and access to different asset classes. As the market evolves, investors must navigate these uncharted waters with a clear understanding of Singapore’s ETF landscape. This article explores the trends, challenges and strategies for navigating the Singapore ETF market. To start investing in ETFs, you can visit Saxo Capital Markets PTE.

The Singaporean ETF Market: Exponential Growth

The Singapore ETF market has seen significant growth in recent years, with an increasing number of ETFs covering a wide range of asset classes and holders. different investment topics. 

One of the notable trends in the Singapore ETF market is the growing diversity of available options. Investors can now choose from ETFs that track domestic and international stock indexes, bonds, commodities, and specialist sectors or themes. This diverse range of ETFs allows investors to create comprehensive portfolios tailored to their investment goals.

The growth of the ETF market in Singapore is also due to growing investor demand for low-cost, transparent, and accessible investment vehicles. ETFs offer benefits such as intraday liquidity, real-time pricing, and the ability to trade on exchanges. These characteristics have made ETFs attractive to retail and institutional investors who want exposure to different asset classes.

Regulatory Landscape and Investor Protection

The Monetary Authority of Singapore (MAS) is the…

Continue Reading

Don't Miss

Property Loans for Foreigners in Singapore That You Must Know About



property loans for foreigners in Singapore

Intending to invest in a residential or commercial property in Singapore?  

When it comes to foreigners applying for a loan in Singapore, things can be pretty hard regardless of the reason whether you need the property for personal or business purposes.  

In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.  


As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.  

In this sense, Singapore has the Loan to Value Ratio (LTV).  

The LTV ratio is what determines the exact amount of money you can borrow for a property loan, which changes depending on where you try to obtain the loan:  

  • If you are applying for a bank loan, you can borrow a maximum of 75% of the value of the property you want to purchase. That means if you are looking for a property that costs $500.000, the maximum amount of money a bank lender can give you like a loan in Singapore is going to be $375.000. 
  • When you are applying for a loan with a Housing…
Continue Reading

Don't Miss

CoinField Launches Sologenic Initial Exchange Offering




CoinField has started its Sologenic IEO, which is the first project to utilize the XRP Ledger for tokenizing stocks and ETFs. The sale will last for one week and will officially end on February 25, 2020, before SOLO trading begins on the platform.  Sologenic’s native token SOLO is being offered at 0.25 USDT during the IEO.   

Earlier this month, Sologenic released the very first decentralized wallet app for SOLO, XRP, and tokenized assets to support the Sologenic ecosystem. The app is available for mobile and desktop via the Apple Store and Google Play.  The desktop version is available for Windows and Mac.

“By connecting the traditional financial markets with crypto, Sologenic will bring a significant volume to the crypto markets. The role of the Sologenic ecosystem is to facilitate the trading of a wide range of asset classes such as stocks, ETFs, and precious metals using blockchain technology. Sologenic is an ecosystem where users can tokenize, trade, and spend these digital assets using SOLO cards in real-time. The ultimate goal is to make Sologenic as decentralized as possible, where CoinField’s role will be only limited to KYC and fiat ON & OFF ramping,” said CoinField’s CEO…

Continue Reading