Tron (TRX) has become one of the best well-positioned virtual coins in the current panorama for cryptocurrencies. This is a fact mainly attributed to amazingly deployed strategies of its head, Justin Sun, a businessman who parallel to Tron also runs the Peiwo APP, an equivalent to Snapchat in the Asian country, China.
Mr. Sun is one of the most widely acclaimed figures in the financial industry today, not only in China but the whole world. He managed to run a cryptocurrency just in times of severe regulations in Asia, and also he successfully achieved its positioning in the global market in a brief period. So what’s the key?
Well, it all seems to the point that Sun has a great entrepreneurial mindset, and his thoughts on expansion and innovations are just limitless. In this matter, the more recent idea of his is to somehow mix his cryptocurrency platform with the way torrents work, and everything seems to lead to the notion that he will soon acquire the giant of the sector, BitTorrent INC (the firm behind uTorrent, too).
Justin Sun’s acquisition of BitTorrent, Inc.
Justin Sun has set a vision with its cryptocurrency and platform which is to make the web space completely decentralized. So far he has implemented several strategies framed on this vision, including the latest creation and launch (occurring in 5 days) of Tron’s mainnet, one of the most awaited events in the crypto industry.
Along with this decentralization vision, Sun has established as well Tron’s interest in approaching somehow the Torrent industry, a fact that’s even mentioned on its whitepaper.
Apparently, the rapprochement occurred for the first time last year when he started negotiations with the BitTorrent inventor, Bram Cohen, but that’s something which actually didn’t result that well. The company which a year ago smoothly changed its name to Rainberry, seemingly incurred in a violation of a “No shop” clause arranged with TRON’s founder Justin Sun.
As a matter of fact, Sun took the case to the court alleging the now called Rainberry, told him they have had negotiations talks with other two companies that apparently offered a better deal. Regarding the case, the court dismissed the demand but as it seems Sun is not willing to let the opportunity go away.
Not so long ago, back in February of this year, the registration of a company called “Rainberry acquisition” was discovered, and the surprising part radicates in the fact that it was found to be registered in the name of no other than Justin Sun itself. Furthermore, the registration date casually matches the expiration date of exclusivity period established in the Letter of intent signed by the two parties previously.
This way, it all seems like Sun has not moved aside the idea of acquiring BitTorrent INC, a fact that even was confirmed by the disputed company in an interview for TorrentFreak.com. However, still nothing has been accepted by the CEO of TRON, hence in the meantime, we remain somewhat ‘expectatious’.
But as this stand right now, it all seems to point out to the fact that Mr. Sun is all set to acquire BitTorrent, Inc shortly. It will be interesting to see how both, BitTorrent and Tron TRX, go hand-in-hand once they are in the hands of the very same owner, Mr. Sun. And of course, even though, it’s still a rumor, the potential acquisition is going to enable the Tron’s TRX bull to keep charging further (alongside a decent number of other exciting news surrounding the coin lately).
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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 Pxhere.com
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…
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