Blockchain Entrepreneur Justin Sun known for the Tron platform and its TRX cryptocurrency closed a deal with BitTorrent Inc. last week and has reportedly acquired the file-sharing pioneer.
AS reported by Variety.com, Sun who earlier filed a temporary restraining order against BitTorrent for allegedly pursuing other company offers amid their deal dropped the lawsuit and filed a change of status due to a merger.
Sun reportedly registered a company called Rainberry Acquisition Inc. with BitTorrent, previously renaming its corporate entity to Rainberry Inc. early last year.
With Sun’s acquisition, BitTorrent’s staff was advised not to provide information to the press.
Financial details were not revealed but Sun’s $4.78 billion worth of TRX cryptocurrency would be enough to buy BitTorrent and its assets.
Sun also has a foundation called Tron Foundation that aims to build a “decentralized internet” which allows developers to build blockchain-based applications.
(Photo source: trustnodes.com/ variety.com)