TRON founder bought BitTorrent

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There is an official confirmation that Justin Sun, the founder of the TRON platform, has bought out BitTorrent, a company that develops and supports the file transfer application of the same name..

Rumors of a deal surfaced back in May, but it was only recently that company employees received a takeover notice. Negotiations between the parties began in September 2017, and the purchase was scheduled for January 2018. However, BitTorrent began negotiating terms with other potential buyers, forcing Justin Sun to file legal action against them. TRON founder wins dispute and both companies send documents for merger.

TRON founder bought BitTorrent

The parties do not disclose the details of the transaction, so the cost and terms of the acquisition are unknown. BitTorrent has had some problems lately in attracting new active users due to overly ambitious development plans. As a result, the project was forced to cut staff and recapitalized. However, these efforts have not yielded the expected results due to new management mistakes..

Recall that Facebook, despite the assurances, is distributing user data.

text: Ivan Malichenko, photo: Shutterstock 

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