Tron Took BitTorrent Deal Away From Neo, Overtaking Competitor

  • Yuri Molchan
    📰 News

    Tron didn't even bid the highest amount to buy BitTorrent. NGC offered a lot more than Justin Sun. They offered $50 mln more than Tron. Sun pulled the deal off


Tron Took BitTorrent Deal Away From Neo, Overtaking Competitor

Coindesk reports that Tron did not even bid the highest amount to buy BitTorrent. Neo Global Capital (NGC) offered a lot more than Justin Sun. They, reportedly, offered $50 mln more than Tron, which purchased BitTorrent for $120 mln. Curiously enough, Sun pulled the deal off.

Originally, Sun was not going to buy all of the company, he just wanted to buy a controlling stake. However, later the major investor of BitTorrent, in control of the 90 percent of shares, insisted that Sun buy the rest of the stake as well.

Cover image via u.today
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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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