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Tron’s Justin Sun Finally Acquires BitTorrent after Long Battle

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Tron

After a series of legal battles, BitTorrent has finally been sold to Tron CEO Justin Sun. First reported on TorrentFreak on May 25th, the news entailed details of how Justin Sun had pursued the company with talks that dated as far as September of last year.

After the talks, Justin Sun and BitTorrent agreed and signed on a letter of intent to acquire BitTorrent in January of 2018. However, BitTorrent initiated conversations and meetings with other bidders, holding back the deal for a brief moment while Sun moved to court to sue BitTorrent with a temporary restraining order.

Eventually, however, Sun dismissed the lawsuit and went on to register Rainberry Acquisition. Considering BitTorrent had already renamed their business to Rainberry Inc early last year, various news reports pointed to the now obvious conclusion that Justin Sun’s move was in line with acquiring BitTorrent.

In addition, Variety also recently reported that Rainberry Acquisition (Justin Sun’s company) had merged with BitTorrent’s Rainberry Inc officially after California Secretary of State suggested they both file a merger.

Keeping everything quiet

At the moment, there is no representative from either of the entities who have issued out a comment or an announcement about the merger. In fact, even though the BitTorrent management has informed its staff about the deal, Variety reports that staffers “have been advised not to talk to the press”.

Furthermore, some of BitTorrent’s shareholders have also been contacted and informed about the deal through the transfer agents working on the deal.

In regards to this deal, Sun has also been somewhat reserved considering his usual social media presence. From the look of it, however, Tron’s goal of decentralizing the internet falls in line with the underlying technology that BitTorrent is built upon. In fact, there are 8 unique references in Tron’s whitepaper that point back to BitTorrent.

Valuation of the deal and Saving BitTorrent

Although the valuation of the deal has not been determined at the moment, it’s pretty clear that Sun can afford to acquire BitTorrent considering the company has been struggling and that the Tron Foundation is worth over $1 billion in TRX holdings.

On the other hand, BitTorrent will be breathing a sigh of relief after a tumultuous corporate history of bad deals. Ten years ago BitTorrent managed to raise money to build a P2P based entertainment business. Those plans failed, leading the company to focus on growing an advertising and bundle software business. Although this move proved successful enabling the company to have over 150 million active users at the time, 2016 saw two outside investors come in as co-CEOs eventually faltering the company’s growth. This led BitTorrent to shut down its live streaming business just last year while the company’s founder Bram Cohen went on to become the CEO of Chia.

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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.

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Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

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.

Mission Statement

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, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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